It’s a Good Time for a Service Sector Economy.
Initial Jobless Claims (week ended 8/29/2015)
– New Claims seasonally adjusted 282,000. Previous was 270,000
– New Claims unadjusted totaled 230,493 an increase of 3,844 from previous
– 4-week Moving Average – Level 272.50 K 272.25 K 275.50 K
Challenger Job-Cut Report (August 2015)
– Announced Layoffs 41,186. Previous was 105,696.
The July number was large because it included a very large U.S. Army cutback.
International Trade (July 2015)
– Trade Deficit Level $41.9 billion. Previous was 45.2 billion.
Gallup US Payroll to Population (August 2015)
– Index level 45.3. Previous was 45.5.
This should be an early look at the Labor Participation Rate in tomorrow’s BLS Employment Situation Report. The trend has been toward a declining Labor Participation Rate. If the percent of the population working continues to fall there will be very serious fiscal issues.
PMI Services Index (August 2015)
– Level 56.1. Previous was 55.7.
It is worth noting that this is a time when a service oriented economy such as the U.S. will be less impacted that a manufacturing based economy.
ISM Non-Manufacturing Index (August 2015)
– Composite Index 59.0. Previous was 60.3.