Initial Jobless Claims

Strong ADP Private Jobs Report

ADP Private Jobs (December 2012) – Jobs were +215,000. Previous was +118,000. This is one of the strongest pieces of data we have seen in months. Challenger Job-Cut Report (December 2012) – Announced Layoffs were 32,556 down from 57,081. Initial Jobless Claims (week ended 12/29/2012) – New Claims – 372,000.  Previous revised from 350.000 to

Strong ADP Private Jobs Report

ADP Private Jobs (December 2012) – Jobs were +215,000. Previous was +118,000. This is one of the strongest pieces of data we have seen in months. Challenger Job-Cut Report (December 2012) – Announced Layoffs were 32,556 down from 57,081. Initial Jobless Claims (week ended 12/29/2012) – New Claims – 372,000.  Previous revised from 350.000 to

Government Spending Pads GDP. Existing Home Sales up.

GDP (3rdQ2012) – Real GDP – Quarter/Quarter  +3.1% – GDP price index – Quarter/Quarter  +2.7% – Final sales of domestic goods was +2.4% The previous iteration of 3rdQ2012 GDP was estimated at +2.7%.  2ndQ2012 had been +1.7%.  The final sales of domestic goods is the best measure of economic health becaue it is all about

Deceptive Headline GDP. Initial Jobless Still too High.

GDP (3rdQ2012 – second estimate) – GDP was revised from +2.0% to +2.7% – The GDP deflator (a measure of inflation) was 2.7%. The increase looks good until one looks inside.  According to BEA, GDP was made up of the following components: – real personal consumption was +1.4% compared with 1.5% in 2ndQ – Durable

Jobless Claims up. Manufacturing Weakens.

CPI – Retail Inflation  (October 2012) CPI – Month/Month +0.1% CPI – Year/Year  +2.2% CPI Core (less food & energy) Month/Month +0.2% CPI Core (less food & energy) – Year/Year +2.0% One of the larger increases was in rents which were +0.4%. Initial Jobless Claims (week ended 11/10/2012) New Claims – 439,000. Previous was 355,000