The volatility reflects the government's difficulty adjusting the data to account for layoffs after the holiday shopping season. Job cuts typically spike in the second week in January as retailers dismiss temporary employees hired for the winter holidays. Layoffs then fall in the second half of the month.
UPS 4Q results, 2013 outlook miss estimates
DALLAS (AP) â¿¿ United Parcel Service Inc. says weak global trade and a disappointing holiday season slowed it down in the fourth quarter.Profit in the last three months of 2012 fell short of Wall Street expectations. So did UPS's outlook for this year as the company took a cautious approach toward the global economy. UPS also forecast a "relatively flat" first quarter. The company's shares dropped 2.4 percent on Thursday. ___ Global growth boosts MasterCard 4Q net income MasterCard's net income rebounded strongly in the fourth quarter as its overseas business continued to expand, the company said Thursday. The results benefited by comparison to the year-earlier quarter, which was weighed down by a massive legal charge. Net income in the three months ended Dec. 31 rose to $605 million, or $4.86 per share, from $19 million, or 15 cents per share, a year earlier. Net revenue rose 10 percent to $1.90 billion. MasterCard continued to grow by most measures: It processed 20 percent more transactions than a year ago, including 17 percent higher cross-border volumes. ___ Doritos to roll out chips in 'Taco Bell' flavor NEW YORK (AP) â¿¿ Frito-Lay wants a bigger bite of Taco Bell's popular Doritos Locos Tacos. The snack food giant plans to roll out its Doritos in a "Taco Bell" flavor as a limited-time product this spring, aiming to capitalize on the popularity of the Doritos-flavored tacos introduced by the fast-food chain last year. Frito-Lay says it will be the first time since the 1990s that it has offered Doritos branded with the logo of a national restaurant chain.