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Worker Productivity down for 3rd Consecutive quarter.

Productivity and Costs (2ndQ2016) – Nonfarm productivity quarter/quarter seasonally adjusted, annualized -0.5%. Previous was -0.6% – Unit labor costs – quarter/quarter seasonally adjusted +2.0%. Previous was -0.2% – revised from +4.5% Productivity is GDP/hours worked.  Worker Productivity has dropped for 3 consecutive quarters. I do not believe that this means that workers are becoming slackers. I […]

 

Inside the BLS Employment Situation Report.

This is my monthly look inside the BLS Employment Situation Report. There are two BLS Surveys: the Establishment and the Household. Establishment surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual worksites. It is taken each month during the week which includes the 12th of the month. Household is a survey of 60,000 […]

 

Labor Market Conditions Index Turns Positive.

Labor Market Conditions Index (July 2016) – LMCI +1.0. Previous was -0.1. This is a broad measure of the health of the Labor Market and is produced by the Federal Reserve. It is based on 19 labor market indicators. It had been negative since January 2016 making July the first positive reading this year.

 

July BLS Strong.

BLS Employment Situation Report (July 2016) – Nonfarm Payrolls month/month 2  255,000. Previous was 292,000 – Unemployment Rate  4.9%. Previous was 4.9% – Private Payrolls  month/month  217,000. Previous was 259,000 – Participation Rate  62.7%    62.8%. Previous was 62.7% – Average Hourly Earnings month/month 0.1 %  0.3 % 0.2 % to 0.3 % +0.3%. Previous was […]

 

Factory Orders down. Jobless Claims Remain low.

Initial Jobless Claims (week ended 7/30/2016)   – New Claims (seasonally adjusted) 269,000. Previous was 265,000 – New Claims unadjusted, totaled 220,204 a decrease of 11,485 from previous – 4-week Moving Average (seasonally adjusted) 260,250, Previous was 256,500. Initial Jobless Claims remain low.     Challenger Job-Cut Report – Announced Layoffs  45,346. Previous was 38,536 […]

 

Purchase Mortgage Applications down again.

MBA Mortgage Applications (week ended 7/29/016) – Purchase Index Week/Week -2.0%. Previous weeks were -3.0%, -2.0%, +0.0%, +4.0%, -3.0%, -2.0%, -5.0%, +12.0%, -5.0%, +5.0%, -6.0%, +0.4%, and +1.0%. – Refinance Index Week/Week -3.0%. Previous weeks were -15.0%, -1.0%, +11.0%, +21.0%, -2.0%, +7.0%. -1.0%, +7.0%, -4.0%, +0.4%, +1.0%, +0.5%, and -6.0%. – Composite Index Week/Week -3.5%. […]

 

Consumer Spending Growth Exceeds Income Growth.

Personal Income and Outlays (June 2016) – Personal Income month/month +0.2%. Previous was +0.2% – Consumer Spending month/month +0.4%. Previous was +0.4% – PCE Price Index month/month +0.3%. Previous was +0.2% – Core PCE price index -month/month +0.1%. Previous was +0.2% – PCE Price Index year/year +0.9%. Previous was +0.9% – Core PCE price index […]

 

Construction Spending down.

PMI Manufacturing Index (July 2016) – Level 52.9. Previous was 51.3   ISM Manufacturing Index (July 2016) – Level 52.6. Previous was 53.2   Construction Spending (June 2016) – Construction Spending month/month -0.6%. Previous was -0.1% – Construction Spending year/year +0.3%

 

Friday Funk: Duck and Cover

Get your cool back for the weekend.

 

2ndQ2016 GDP half of Expectation.

GDP (2ndQ2016) – Real GDP quarter/quarter seasonally adjusted, annualized +1.2%. Previous was +0.8% – GDP price index quarter/quarter seasonally adjusted, annualized +2.2%. Previous was +0.5%. Growth was about half of what was expected and follows an awful 1stQ which was even revised down. The Fed’s statement of this week was that “that economic activity has […]

 
 
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