THE BASIS POINT

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.

 

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