2009-04-03 USER


[Skip to the end]


Change in Nonfarm Payrolls (Mar)

Survey -660K
Actual -663K
Prior -651K
Revised n/a

 
Karim writes:

  • A 663k drop in payrolls and -86k in net revisions is bad enough
  • The worst of it is the ongoing collapse in hours-the index of aggregate hours down another 1% last month
  • On a work force of 130mm, a 1% drop in hours has the same impact on labor income as a 1.3mm fall in payrolls if total hours were unch
  • The annualized drop in hours in Q1 was -8.7%-assuming 2-3% productivity growth; likely leaves real GDP in -5.5% to -6.5% area
  • Total unemployed, plus marginally attached workers, plus part-time for economic reasons up from 14.8% to 15.4% (16% to 16.2% unadjusted)
  • Only positive was diffusion index up from 21.4 to 22
  • But looking at industry breakdown, hard to find where that improvement came from
    • Manufacturing -161k
    • Construction -126k
    • Retail -48k
    • Finance -43k
    • Temp -72k
    • Govt -5k
    • Education +8k

[top][end]

Change in Nonfarm Payrolls YoY (Mar)

Survey n/a
Actual -4795.00
Prior -4254.00
Revised n/a

[top][end]

Nonfarm Payrolls ALLX (Mar)

[top][end]

Unemployment Rate (Mar)

Survey 8.5%
Actual 8.5%
Prior 8.1%
Revised n/a

[top][end]

Unemployment Rate ALLX 1 (Mar)

[top][end]

Unemployment Rate ALLX 2 (Mar)

[top][end]

Change in Manufacturing Payrolls (Mar)

Survey -162K
Actual -161K
Prior -168K
Revised -169K

[top][end]

Change in Manufacturing Payrolls YoY (Mar)

Survey n/a
Actual -9.9%
Prior -9.1%
Revised n/a

[top][end]

Average Hourly Earnings MoM (Mar)

Survey 0.2%
Actual 0.2%
Prior 0.2%
Revised n/a

[top][end]

Average Hourly Earnings YoY (Mar)

Survey 3.5%
Actual 3.4%
Prior 3.6%
Revised n/a

[top][end]

Average Hourly Earnings ALLX 1 (Mar)

[top][end]

Average Hourly Earnings ALLX 2 (Mar)

[top][end]

Average Hourly Earnings ALLX 3 (Mar)

[top][end]

Average Weekly Hours (Mar)

Survey 33.3
Actual 33.2
Prior 33.3
Revised n/a

[top][end]


RPX Composite 28dy YoY (Jan)

Survey n/a
Actual -23.03%
Prior -21.43%
Revised n/a

[top][end]

RPX Composite 28dy Index (Jan)

Survey n/a
Actual 186.39
Prior 193.05
Revised n/a

[top][end]


ISM Non Manufacturing Composite (Mar)

Survey 42.0
Actual 40.8
Prior 41.6
Revised n/a


[top]

2009-03-04 USER


[Skip to the end]

 
It all still looks very, very weak. But so low that even small improvements will show high % gains.


MBA Mortgage Applications (Feb 27)

Survey n/a
Actual -12.6%
Prior -15.1%
Revised n/a

[top][end]

MBA Purchasing Applications (Feb 27)

Survey n/a
Actual 236.40
Prior 250.50
Revised n/a

[top][end]

MBA Refinancing Applications (Feb 27)

Survey n/a
Actual 3063.40
Prior 3618.00
Revised n/a

[top][end]


Challenger Job Cuts YoY (Feb)

Survey n/a
Actual 158.49%
Prior 222.40%
Revised n/a

[top][end]

Challenger Job Cuts TABLE 1 (Feb)

[top][end]

Challenger Job Cuts TABLE 2 (Feb)

[top][end]

Challenger Job Cuts TABLE 3 (Feb)

[top][end]

Challenger Job Cuts TABLE 4 (Feb)

[top][end]


ADP Employment Change (Feb)

Survey -630K
Actual -697K
Prior -522K
Revised -614K

[top][end]

ADP ALLX (Feb)

[top][end]


RPX Composite 28dy Index (Dec)

Survey n/a
Actual 193.05
Prior 199.39
Revised n/a

[top][end]

RPX Composite 28dy YoY (Dec)

Survey n/a
Actual -21.43%
Prior -21.59%
Revised n/a

[top][end]


ISM Non Manufacturing Composite (Feb)

Survey 41.0
Actual 41.6
Prior 42.9
Revised 42.9


[top]

2009-01-30 USER


[Skip to the end]


GDP QoQ Annualized (4Q A)

Survey -5.5%
Actual -3.8%
Prior -0.5%
Revised n/a

 
Karim writes:

Better than expected at -3.8% due to inventory build.

Here is the GDP math:

Private consumption (-2.5%) + Business Fixed Investment (-3.1%) + Government (+0.4%) + Net Exports (+0.1%) + Chg in Inventories (+1.3%)

  • Real final sales of -5.1% were consistent with estimates.
  • Business sector overestimated domestic demand, thereby accounting for the inventory build (should reverse in Q1).
  • Core PCE deflator slowed from 2.4% to 0.6%.
  • Within investment, both housing (-23.6%) and equipment/software (-27.8%) were very weak.

[top][end]

GDP YoY Annualized Real (4Q A)

Survey n/a
Actual -0.2%
Prior -0.7%
Revised n/a

[top][end]

GDP YoY Annualized Nominal (4Q A)

Survey n/a
Actual 1.7%
Prior 3.3%
Revised n/a

[top][end]

GDP Price Index (4Q)

Survey 0.4%
Actual -0.1%
Prior 3.9%
Revised n/a

[top][end]

Core PCE QoQ (4Q)

Survey 1.0%
Actual 0.6%
Prior 2.4%
Revised n/a

[top][end]

GDP ALLX 1 (4Q)

[top][end]

GDP ALLX 2 (4Q)

[top][end]

Personal Consumption (4Q)

Survey -3.5%
Actual -3.5%
Prior -3.8%
Revised n/a

[top][end]


Employment Cost Index (4Q)

Survey 0.7%
Actual 0.5%
Prior 0.7%
Revised n/a

[top][end]

Employment Cost Index ALLX (4Q)

[top][end]


RPX Composite 28dy YoY (Nov)

Survey n/a
Actual -21.59%
Prior -20.14%
Revised n/a

[top][end]

RPX Composite 28dy Index (Nov)

Survey n/a
Actual 199.39
Prior 206.73
Revised n/a

[top][end]


Chicago Purchasing Manager (Jan)

Survey 34.9
Actual 33.3
Prior 34.1
Revised 35.1

[top][end]


NAPM Milwaukee (Jan)

Survey n/a
Actual 33.0
Prior 30.0
Revised n/a

[top][end]


U of Michigan Confidence (Jan F)

Survey 61.9
Actual 61.2
Prior 61.9
Revised n/a

[top][end]

U of Michigan TABLE Inflation Expectations (Jan F)


[top]