Spin time: fewer jobs is a victory for the bulls.
When seasonal variations are removed from the data, the results suggest that employers expect a slight decrease in the rate of hiring when compared to Quarter 3 2009. The fourth quarter Net Employment Outlook for the U.S. is considerably weaker than one year ago at this time. According to seasonally adjusted regional data, employers in the South report a slight increase in hiring expectations compared to Quarter 3 2009, while employers in the Midwest and West expect the hiring pace to remain nearly unchanged. Employers in the Northeast are anticipating a moderate decrease and expect the weakest hiring conditions for Quarter 4 2009. Employers across all regions anticipate a considerable decrease in hiring activity compared to one year ago.
hat tip Kris