presidential election

Via The Economic Cycle Research Institute,

With the economic expansion in its eighth year, over 15 million jobs added since the post-recession low in employment, and a steady decline in the jobless rate from its recessionary high of 10% to under 5%, many mainstream economists were convinced that the U.S. economy was in good shape. That misconception, at least where jobs are concerned, is a key reason so many were stunned by this month’s election verdict.

Despite a Wisconsin judge denying her request for a hand recount last night due to the fact that she "failed to show any mistakes or irregularities that would bring a machine recount into question," Jill Stein continues her recount crusade today with an official petition in Michigan.  As usual, Stein released a statement along with the petition saying that "Americans deserve a voting system we can trust." Michigan state officials have confirmed that the recount will start on Friday and must be completed by December 13th. 

Per The Hill: 

The Fed's latest Beige Book released Wednesday found seven regional Fed districts reporting economic activity as growing at a modest or moderate pace, a decline from 11 in the last report, with strong dollar headwinds among one of the more frequently cited reasons for the weakness.

While the Beige Book information was collected up until Nov. 18, 10  days after the U.S. elections, uncertainty about the influence on politics on economic activity was cited eight times in the report. 

Submitted by Michael Shedlock via MishTalk.com,

European Commission President, Jean-Claude Juncker issued a warning to Austrian presidential candidate Norbert Hofer, regarding referendums.

Hofer, an anti-immigration, candidate is in a tight race for the election coming up on December 4.

If he wins, Hofer said he would hold in-out referendums if Brussels seeks to expand it power.

Following October's disappointment (+147k), November's ADP employment printed a much better than expected 216k (over 170k exp), thanks to a notable downward revision to October to 119k. Goods-producing jobs dropped once again (-11k) with a renewed surge in services employment (+228k). While this November post-Trump spike is noteworthy (highest in 5 months), there continues to be a medium-term trend of weakening job growth in America.

A good post-trump spike, but the 24-month trend continues to deteriorate:

Spot the odd one out...