Tag Archives: retail
Real GDP rose an almost negligible 0.2% in the first quarter, marking the fifth time that the economy has slowed to a standstill or worse since the onset of the “recovery” in 2009. Some of the weakness may be attributed to transitory factors
Payroll employment jumped 321,000 in November and was revised up by 44,000 for the previous two months, bringing the last three-month average up to 278,000. Gains were broad-based, with particularly good gains in the business services sector (outside of temporary hires) where full-time, high paying jobs reside. This sector was among those hardest hit by [...]
Payroll employment increased 214,000 in October with upward revisions for the previous months of 31,000. Moreover, we have seen upward revisions consistently, which means momentum is moving to the upside. Some of the largest gains occurred in low-wage food services and drinking establishments. Some of that increase in employment reflects a move by employers to [...]
The employment cost index rose 0.7% in the third quarter, more than expected after rebounding from the doldrums in the second quarter. The index rose 2.3% from a year ago on the heels of slightly stronger wage growth; benefit costs for employers actually decelerated from a year ago.
Personal consumer outlays dropped 0.2% in September from August, reinforcing the negative read that the recent retail sales report provided for us. A shortfall in retail sales in September was one of the factors that triggered a selloff in the stock market earlier this month when traders feared that the U.S. consumer couldn’t play the [...]