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.