Weekly Economic Update April 6 - 10, 2015
News & Commentary Weekly Highlights:
- CNN Money: Atlanta Fed Cuts U.S. Growth Forecast to Zero (Thursday)
- Bloomberg Business: Yellen Says More Economic Mobility Promotes a Healthier Economy (Thursday)
- Wall Street Journal: Use Trade as the Next Stimulus (Tuesday)
- Washington Times: Young Workers Opting Out of the Workforce (Sunday)
- Wall Street Journal: Tax Proposals Would Move U.S. Closer to Global Norm (Sunday)
Top Economic Indicator Highlights:
Employment Situation (March)
- Unemployment rate: 5.5%, 12-mo avg.: 5.9%, Recovery avg.: 8.1%
- Long-term unemployed (% of unemployed): 29.8%, 12-mo avg.: 32.1%, Recovery avg.: 39.2%
- Labor force participation rate: 62.7%, 12-mo avg.: 62.8%, Recovery avg.: 63.8%
- Employment-to-population ratio: 59.3%, 12-mo avg.: 59.1%, Recovery avg.: 58.6%
- Nonfarm payroll jobs: 126,000, 12-mo avg.: 261,000, Recovery avg.: 148,000
- Private payrolls: 129,000, 12-mo avg.: 255,000, Recovery avg.: 158,000
- Average workweek: 34.5 hours
- Largest industry sector change (%): Mining and logging, including oil and gas extraction (-1.2%, -11,000)
- Largest industry sector change (level): Professional and business services (+0.2%, +40,000)
- Noteworthy: Mining and logging jobs in support activities for oil and gas extraction fell for the third consecutive month, affected by lower oil prices.
THIS WEEK
Upcoming Economic Reports & Releases:
Major Indicators
- ISM Non-Manufacturing Index (10am, Monday)
- Job Openings and Labor Turnover Survey (JOLTS, 10am, Tuesday)
- Treasury Budget (2pm, Friday)
Reports
- FOMC Minutes (2pm, Wednesday)
Chart of the Week:
