Holy Katrina! The economy weathered two major hurricanes and in spite of that showed accelerated growth. I think what this shows is that fundamentally the economy was and is in really good shape.
The most encouraging signs in the December report was that inventories declined in an absolute sense and at a faster rate. That implies a need for future restocking and that should be a good sign for January, February and March.
I think any number below 350,000 is associated with good job growth. I think we are definitely getting back on track for fundamentally good job generation.
We're grinding out some good increases here. We're producing more than we ever did and our capacity to produce industrial goods has increased.