Tag Archives: jobs
Payroll employment jumped 203,000 in November, a stronger number than markets expected, with some modest upward revisions to the last two months. More importantly, the composition of job gains was much better than it had been, with strong gains in manufacturing and construction. Leisure and hospitality, which had dominated gains in recent months, moderated considerably. [...]
The Consumer Price Index (CPI) rose 0.2% in September and decelerated on a year-on-year basis to a tepid 1.2%. Though energy prices moderated during the last three months, particularly at the pump, they drove what little increase we saw in inflation. Energy prices remain well below (-3.1%) where they were a year ago. Apparel prices [...]
Payroll employment rose a dismal 148,000 in September, well below expectations. Private sector employment rose an even more anemic 126,000. The only silver lining in this gloomy report was a sharp increase in the number of teachers, who had taken it on the chin in recent years; this reflects some improvement in state and local [...]
Payroll employment increased by 169,000 in August but revisions to previous months were lower and substantial for the second month in a row. We should be seeing revisions capturing more, not less employment at this late stage of the game. More worrisome was the even more tepid performance of the private sector, where employment rose [...]
Disposable personal income increased 0.2% in July, only 0.1% after adjusting for inflation. The weakness in income was fairly widespread, with losses in both manufacturing and service sectors. We also saw the imprint of sequestration on government wages and salaries, with a sharp acceleration in the pace of declines reported. Increases in income were largely [...]
Initial jobless claims ticked back down this past week to 331,000. The four-week moving average remained flat at 331,000 as well.
Weekly unemployment claims ticked up slightly during the week ending August 17th, but the-four week moving average remains on a downward trajectory. States reporting the highest number of initial jobless claims included South Carolina, New York and Oregon.
Payroll employment rose a less-than-expected 162,000 in July and was revised down by 26,000 for the previous two months. That is more consistent with the lackluster economic growth that we have seen since the start of the year. Moreover, the composition of employment gains remains less than stellar, with many of the gains concentrated in [...]
Every July, the government plays a cruel trick on economists and tells them that what they once thought were actual data were not, after all. Instead, that was the government’s best guess of what was happening but now that more information and better measurements of the data are available, history as we knew it has [...]
The ADP payroll data surprised to the upside, reporting 200,000 new, private sector jobs in July and including upward revisions for June. Construction employment came back, which is better for the composition of employment but not a game changer. The bulk of gains are still concentrated in low-paid, service sector jobs and temporary work.