Employment Archive

claims, producer prices, euro comments, public sector jobs

Just a reminder, claims measure those losing jobs who file for benefits, not new hires: Jobless Claims The euro has been moving higher vs the dollar, as CB selling winds down as they reach the lower limits of their reserve targets along with fundamental support from a large and growing EU current ...Read More

Redbook retail sales, Small business confidence, JOLTS, Japan budget

So now they don’t have Easter to kick around anymore and they’re still weak: Redbook Retail sales picked up slightly in the May 9 week as Easter-effects finally fade, but at a year-on-year plus 2.1 percent sales remain soft. Redbook reports an as-expected Mother’s Day holiday in the week and reports early ...Read More

Govt employment, credit check

You’d think the Tea Party would give President Obama high marks for this! Nothing going on here: ...Read More

china pmi, ADP, productivity

Still slipping in Q2 China : PMI Composite Highlights HSBC China Composite PMI, which covers both manufacturing and services, indicated an expansion of Chinese business activity in April but at a weaker pace. Activity growth slowed to a three month low with a reading of 51.3, down from 51.8 in March. The ...Read More

Cleveland Fed on low wage growth, Atlanta Fed Q2 gdpnow, factory orders

Behind the Slow Pace of Wage Growth Factory Orders Highlights Boosted by aircraft and also by motor vehicles, factory orders rose an as-expected 2.1 percent in March. March’s gain ends what were 7 straight declines as February, which was initially at plus 0.2 percent, is revised now to minus 0.1 percent. The ...Read More

GDP detail, EU unemployment, personal income, ECI, Jobless Claims, chicago pmi, Bloomberg consumer comfort

Note the inventory build: Note the ‘bending of the curve’ for nominal spending that almost never happens: A bit of a disconnect between headline car sales and car sales’ contribution to GDP? Disposable income has ratched down twice recently- once from the recession and jump in unemployment, and again with the tax ...Read More

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