THE BASIS POINT

Job Openings up as People Leave Workforce.

 

MBA Mortgage Applications (week ended 6/3/2016)

– Purchase Index Week/Week +12.0%. Previous weeks were -5.0%, +5.0%, -6.0%, +0.4%, +1.0%, -2.0%, -1.0%, +8.0%, -2.0%, +2.0%, -1.0%, +0.3%, and +4.0%.

– Refinance Index Week/Week +7.0%. Previous weeks were -4.0%, +0.4%, +1.0%, +0.5%, -6.0%, -5.0%, +3.0%. +11.0%, +7.0%, -3.0%, -5.0%, -6.0%, and -2.0%.

– Composite Index Week/Week +9.3%. Previous weeks were -4.1%, +2.3%, -1.6%, +0.4%, -3.4%, -4.1%, +1.3%, +10.0%, +2.7%, -1.0%, -3.3%, and -3.3%.

This data is misleading because it is by comparison with the previous week which contained the Memorial Day holiday. The data is “adjusted.” Unadjusted data showed a 12% decrease in
Purchase Applications.

 

Job Openings and Labor Turnover Survey (April 2016)

– Job Openings 5,788,000. Previous was 5,670,000.

It is frustrating that Job Openings increase at a time when jobs are decreasing and people are leaving the labor force. This is likely due to the fact that people leaving the labor force
do not have the skill set required for the Job Openings.
The JOLTS report is the Labor Department’s Job Openings and Labor Turnover Survey.

 

 

Quarterly Services Survey (1stQ2016)

– Information Revenue quarter/quarter +1.3%. Previous was +1.8%
– Information Revenue year/year +5.7%. Previous was +4.7%

This is a look at a subsector of the services part of the economy. The data comes from The Census Bureau.

 

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