The big government monthly job report says the economy added 156,000 new jobs in December. The private sector added 144,000 of those jobs – the balance were new government additions. Unemployment rate is 4.7%. (Labor Dept.)
Employers cut 33,627 jobs in December in the US, up 25% from November's low. Layoffs this December was up 42% from last year, which was the lowest monthly total in over 15 years. In 2016, companies posted 526,915 job cuts, down 12% from 2015. The top 5 job-cutting sectors of 2016 – energy, computer, retail, industrial goods, and financial. Texas, California, Arkansas, New York, and Illinois were the hardest states hit by layoffs. (Challenger, Gray & Christmas)
Stanley Black & Decker is buying Sears Craftsman tool brand for $900 million. Sears will continue to offer Craftsman-branded products through a perpetual license from Stanley Black & Decker. Stanley Black & Decker expects Craftsman to generate about $100 million of for the next 10 years. (Reuters)
Join us this weekend for Financial Focus Radio when we will share with you the true secrets of building wealth.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.