Private Surveying of November Labor Conditions Showed Continuing
Annual Contraction and Ongoing Non-Expansion

Still-Heavily-Distorted, November Unemployment Rates Notched Minimally Higher:
U.3 Rose to 4.12% versus 4.07%, U.6 Rose to 7.96% from 7.91%, and the
ShadowStats-Alternate Rose to 21.7% from 21.6%

Hurricane-Warped Unemployment and Employment Household-Survey Details
Face Near-Term Corrections with the January 5th Benchmark Revisions

Low-Level Annual Payroll Growth Continued to Signal New Recession

Seasonal-Adjustment Gimmicks Bloated Headline Payroll Gains, where
Unadjusted Payrolls Revised Lower but Adjusted Levels Revised Higher;
Payroll-Survey Benchmark Revisions Loom for February 2nd

Fourth-Quarter 2017 Real Merchandise Trade Deficit on Early Track for
Worst Showing Since First-Quarter 2007

October 2017 Nominal Balance of Payments Trade Deficit
Increased by 8.6% versus September 2017, by 13.1% versus October 2016

Shy of Recovering Its Pre-Recession Peak by 22.0% (-22.0%), Real Construction Spending
Continued in Annual Decline, as Last Seen During the 2006 Housing Collapse

Amidst Expectations of a December 13th FOMC Rate Hike,
November 2017 M3 Annual Growth Eased Back to 4.6% from 4.8% in October, as
Monetary-Base Annual Growth Jumped to a Four-Year High of 8.1%