The Globe and Mail profiles TrimTabs Investment Research Director of Macroeconomics Madeline Schnapp’s original research on US job growth in story, Markets Eagerly Await Job Creation.
"...(O)ne forecasting firm is sticking its neck out and claiming the consensus is way too optimistic. TrimTabs Investment Research projects that the economy added only 124,000 jobs in May, up slightly from the 116,000 created in April. TrimTabs isn't making a wild guess at the number. The research service bases its estimate on an analysis of the daily income tax deposits made to the U.S. Treasury from all salaried U.S. employees, figures that it says are historically more accurate than the initial job estimates made by the Bureau of Labour Statistics.
“Wall Street cheerleaders are ignoring the fact that high unemployment, a depressed housing market, deleveraging consumers, elevated fuel prices, and fallout from the worsening sovereign debt crisis in Europe are keeping the economy mired in slow-growth mode,” said Madeline Schnapp, director of macroeconomic research at TrimTabs, in a commentary accompanying the firm's estimate." Click here for full story
Madeline Schnapp, Macroeconomist TrimTabs Investment Research is a regular guest on Kathleen Hays’ Bloomberg Radio show, Hays Advantage.
Click below to listen: