Employment Archive

RT interview

My interview starts at 3:30 ...Read More

sea container counts, state labor force stats, mtg purchase apps, existing home sales, FHA home prices, Japan headline

March 2015 Sea Container Counts Are Not Strong Even Though the Labor Troubles Are Over By Steve Hansen The West Coast Ports labor dispute is over, and appears the backlog has been eliminated causing a spike in exports. However, not only is year-to-date volumes contracting for both imports and exports – but ...Read More

Housing starts, Italy Merchandise Trade, UK opinion chart, ECB euro policy musings

Moving up some but still relatively low, but as previously discussed, this is about people losing jobs, not new hires: Jobless Claims And yet another lower than expected release: Housing Starts Just anecdotal evidence of what happens as the euro is pushed down by CB portfolio selling to ‘equate supply and demand’ ...Read More

labor mkt index, ISM services, tax collections, truck sales, lumber

Presumably this means something to the Fed: Labor Market Conditions Index Highlights The Fed’s Board of Governors Research Department’s unofficial report on labor market conditions came in weak for March, dropping to minus 0.3 from plus 2.0 in February. There was no text or detail on the unofficial report but highly likely ...Read More

Balanced budget amendment getting closer, consumer credit, Redbook retail sales, JOLTS

the BIG stupid… Conservative lawmakers weigh bid to call for constitutional convention Consumer Credit Highlights Consumer credit rose a solid looking $15.5 billion in February but a closer look shows an unwanted $3.7 billion decline in revolving credit. This is the 4th decline in 5 months for the revolving component which reflects ...Read More

Payrolls, credit check

As suspected, last month’s print was revised lower and now with this month’s even lower print the spike reported in November has completely reversed and the payroll number is back in sync with ADP and the rapid declines in most other series. Employment Situation Highlights The labor market has softened in several ...Read More

Car sales, mortgage purchase apps, ADP jobs, ISM manufacturing, construction spending

U.S. Light Vehicle Sales increase to 17.05 million annual rate in March By Bill McBride ​U.S. auto sales hit a speed bump in March April 1 — DETROIT – U.S. car buyers tapped the brakes in March, a sign of a long-expected slowdown in the blistering pace of sales. March sales were ...Read More

Jobless claims, Market pmi, KC Fed manuf index, trucking tonnage, rail traffic

Remain towards the lows, means layoffs still tame: This looks reasonable as well, but the Markit surveys are always suspect, and expectations fell: United States : PMI Services Flash Highlights The manufacturing sector may be sputtering but not the service sector, based on Markit’s flash PMI which is up strongly for a ...Read More

QE, the dollar, and the euro, jobless claims, US trade deficit, Philadelphia Fed survey

So my story is that traders and portfolio managers worried about inflation and currency depreciation from QE caused the depreciation during those periods, covering shorts and restoring dollar weightings after QE ended, returning the dollar to where it was. And now the latest spike is largely from the ECB’s QE announcement which ...Read More

Jobs

Better than expected number: Employment Situation Highlights The labor market is stronger than believed. Payroll jobs increased 295,000 in February after healthy increases of 239,000 in January and 329,000 in December. January and December were revised down a net 18,000. Market expectations for February were for a 230,000 increase. The unemployment rate ...Read More