Employment Archive

Retail Sales, Jobless Claims, Import Export Prices, Business Inventories, Japan Machine Orders, Freight Transportation, Gas Prices

This is being touted as a strong report, but, again, looks to me like it’s dropped since year end and at best is moving sideways from there, and not to forget that a large share of auto sales are imports. But I do agree the Fed is heck bent on raising rates ...Read More

MTG Purchase Apps, EU Industrial Production, China Industrial Production, JOLTS

Yes, purchase apps are up 20% vs last year, but you can see from the chart the number of applications has leveled off and declined a bit more recently this year, and remains at depressed levels: The slump in industrial production is global: European Union : Industrial Production Highlights Industrial production declined ...Read More

Fed Labor Indicator, NY Fed Consumer Expectations, Lumber Prices, China Trade

This Fed indicator, whatever it means, just went down some: Labor Market Conditions Index Highlights If the Fed relied exclusively on its labor market conditions index, no one would be in much hurry for the rate hike. The index for July came in slightly below expectations at 1.1 vs a revised 1.4 ...Read More

Jobs, Atlanta Fed, Rail Traffic

The Fed is looking for ‘some improvement’ in the jobs market. But looks like deterioration to me? The number of jobs fell for the second straight month, the year over year growth rate continued to fall, the unemployment rate and the participation rate were unchanged, earnings growth remains very low. All that ...Read More

Challenger Layoffs, Claims, Trade Comments, Saudi Price Setting, Construction Detail

Not to worry, just the army announcing layoffs: Challenger Job-Cut Report Highlights A major Army cutback made for an outsized 105,696 layoff count in July. The Army said it is cutting 57,000 jobs over the next two years (note that Challenger counts layoffs at the time of announcement, not when layoffs actually ...Read More

Redbook Retail Sales, Case-Shiller House Prices, PMI Services, Consumer Confidence, Richmond Fed, Oil Capex, Truck Tonnage

Still bad: source: Econoday.com Softening: source: Econoday.com I don’t put much weight on Markit surveys, but the optimism comment is interesting: source: Econoday.com Highlights Service sector growth is strengthening slightly this month based on Markit’s July flash index which is up 4 tenths to a very solid 55.2. New orders are at ...Read More

Claims, Phili Fed, Housing index

Down a touch but the 4 week moving average still moving higher: Highlights Auto retooling is clouding initial jobless claims data which fell 15,000 in the July 11 week to 281,000. But the 4-week average, inflated by a 14,000 spike in the prior week, rose 3,250 to a 282,500 level that’s more ...Read More

NFIB index, retail sales, Redbook retail sales

When it was going up it made headlines. On the way down not a word… United States : NFIB Small Business Optimism Index Highlights Small business optimism fell very sharply in June, down 4.2 points to 94.1 with 8 of 10 components falling and pointing to weakness for the second half of ...Read More

Fed labor market index, ISM non manufacturing index, Bank lending, Greece

Prior month revised lower and this month lower so Fed that much less likely to raise rates: Labor Market Conditions Index Highlights Growth in the nation’s labor market remains subdued with the labor market conditions index at plus 0.8 in June vs a revised plus 0.9 in May. The reading is barely ...Read More

NFIB employment, BOJ solvency, Non Farm Payrolls, Claims, Factory Orders

The cheer leaders didn’t bother to report on this they way they did when employment was increasing: U.S. small business hiring takes a breather in June: NFIB July 1 (Reuters) — The National Federation of Independent Business said its monthly survey of members found hiring was little changed last month. Fifty-two percent ...Read More