You can click this graphic for the detailed November Payrolls report from BLS.
Here is where the heavy lifting came from. There is the usual onslaught of services jobs relative to productive jobs. But what’s this? Manufacturing has spiked despite the fading ISM data (including hiring)? Well, that was from the returnees of an auto worker strike so I guess one offsets the other. We’ll see how that shakes out. As long as our Semi (SOX) → Tech (NDX) → Broad (SPX) leadership chain has remained intact, the still intact economy has been in play.
But with the one-off in manufacturing, the picture is as it usually is; all those business, education, health, leisure and hospitality services are tugging the Good Ship Lollipop along.
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