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The granddaddy of monthly economic reports is the federal reading on the employment situation. To call this a single report is deceptive. It actually has a bunch of moving parts that, on their own or as a group, can move stock and bond markets.
It's easy to think of the report in four parts. The first is non-farm payrolls, which tracks the month-over-month change in the number of jobs in the U.S. that don't involve milking cows or picking lettuce. Then comes the unemployment rate, which is the percentage of unemployed people as it relates to the total workforce.
The third component is the average hourly earnings change, which tracks how much more or less money U.S. workers are making. Finally, there's the average work week, which counts the number of hours non-farmers work.
Like most data reports, the unemployment one has its flaws. For one thing, it tracks non-farm payrolls, which means that a lot of folks who work off the land -- or, more to the point, are not currently working off the land -- are excluded. Also, if you¿re a consultant or small-business owner (a big part of the current economy), you¿re not counted. On the flip side, you can be double-counted if you hold down two jobs. That's one of the reasons why it's common to see non-farm payrolls drop (suggesting higher unemployment) but the unemployment rate shrinking (suggesting higher employment).
The impact of the Employment Situation report often depends on the mood of the markets. Take the wage component. If stock and bond traders are worried about inflation, an unexpected rise in hourly earnings suggests wage inflation and, ergo, can scare people. But, that same spike could be welcome if traders are more worried about a slowdown in consumer spending. Higher earnings mean more spending power.
Look for the employment report on the first Friday of every month at 8:30 a.m. EST.
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Wednesday, April 23, 2008
Terry Bryant Law Firm Wins Largest Texas Personal Injury Award for 2007
Comtex
HOUSTON, April 23, 2008 /PRNewswire via COMTEX News Network/ ----Recently published ALM's Verdict Search Top 100 Verdicts of 2007 lists the Terry Bryant Law Firm as the state record-holder for the largest personal injury verdict of 2007. The verdict of $29,391,378 is also the largest ever given in San Jacinto County.
Recipients of the award are Kent and Tamara Peterson, both of whom suffered serious injuries from the crash near Brenham last year. Tamara Peterson had a stroke a few days after the wreck and now suffers cognitive problems and the permanent loss of the use of her left side. She will require lifelong care.
The crash occurred March 28, 2006 on Highway 105 near Brenham when the Petersons were returning home from a weekend outing. Gary Wayne Gibbs' pickup truck crossed the center line of the highway and hit the Petersons' Saturn. Both Petersons had multiple serious fractures. Kent Peterson had to have his wrist fused. He is unable to return to his job as an airline mechanic because of that injury. Tamara Peterson's stroke left her institutionalized for more than a year after the crash.
On behalf of the Petersons, Bryant attorney Gregg Anderson sued the driver of the pickup truck who hit them, Gibbs, and his employer, Universal Cable Holdings. Gibbs was working for Universal Cable Holdings at the time of the accident. The Petersons sued Gibbs for crossing the center line and for driving in the rain with cruise control despite also being blind in one eye.
"We are gratified to be able to win this decision for the Petersons," said Bryant. "They face massive bills for their medical care in the future. No amount of money can restore them to their previous lives but at least now they know they will be able to get the care they need."
Bryant sued Gibbs and Universal Cable Holdings in San Jacinto County, where Gibbs lived at the time. The trial took four days.
The defendants agreed that they were responsible for the wreck on the first day of the trial, so the trial was held only to determine damages.
SOURCE ALM's Verdict Search Top 100 Verdicts of 2007
http://www.terrybryant.com
Copyright (C) 2008 PR Newswire. All rights reserved
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