Job Growth Shows Signs of Life, But Still Has a Long Way to Go
Jobs grew on a steady pace in October but still stubbornly trail other indicators in the climb back to pre-recession levels.
Markets were distracted by Hurricane Sandy for most of the week, though a wide variety of economic metrics were positive. Earnings news continued to be mildly negative and worries about the election really hit home on Friday.
While it will be some time before we know the full effects of Sandy, it is certainly a personal disaster for many and our thoughts go out to those who are suffering. The short-term effects of a major catastrophe are usually negative for the economy, but the rebuilding process usually recoups some of those losses and then some. However, it will all take time and patience--not the stock market's strong suits.
Robert Johnson, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.