Signs of Modest Jobs Growth.

Challenger Job-Cut Report (August 2014)

– Announced layoffs 40,010. Previous was 46,887

 

ADP Employment Report (August 2014)

– Private Jobs 204,000.  Previous revised down to 212,000.

 

Trade Deficit (July 2014)

– Trade Deficit  $40.5 billion.  Previous was $40.8 billion.

Both exports and imports were up.

 

Initial Jobless Claims (week ended 8/30/2014)

– New Claims (seasonally adjusted) 302,000. Previous was 298,000

– New Claims (unadjusted) 248,570  a decrease of 317 from the previous week

– 4-week Moving Average 302,750.  Previous was 299,750.

 

Worker Productivity and Costs (2ndQ2014)

– Nonfarm productivity quarter/quarter (seasonally adjusted, annualized)  +2.3%. Previous was revised from +2.5% to -4.5%

– Unit labor costs quarter/quarter (seasonally adjusted, annualized)  -0.1%. Previous was revised from +0.6% to +11.6%.

Productivity is GDP/hour worked.  This report reflects the weak GDP of 1stQ2014.

 

PMI Services Index (August 2014)

– Level 59.5. Previous was 60.8.

 

ISM Non-Manufacturing Index (August 2014)

– Composite Index 59.6. Previous was 58.7.