Employment fell by 54,000 in August as the unemployment rate edged up to 9.6%
August Employment and Unemployment: The Bureau of Labor Statistics (BLS) released a report today on employment and unemployment for August (pdf summary available). Highlights of the report:
Weekly Economic Update: August 23-27
Overview: GDP growth for the 2nd quarter was revised downwards to 1.6%, from a previously reported advance estimate of 2.4%. Existing home sales fell 27.2% in July as new home sales fell 12.4%. Durable ordered edged up 0.3% in July. Initial jobless claims fell by 31,000 to a level of 473,000 for ...
Second Estimate Shows GDP Grew at an Annualized, Real Rate of 1.6% in the 2nd Quarter
The Bureau of Economic Analysis (BEA) released its second estimate of growth in the inflation-adjusted (“real”) gross domestic product (GDP) for the 2nd quarter of 2010 According to the second* estimate, annualized GDP growth in the 2nd quarter was 1.6%. This marks a downward revision from the p...
Weekly Economic Update: August 16-20
Overview: Housing starts increase 1.7% in July as building permits fell 3.1%. The topline PPI rose 0.2%; the core PPI rose 0.3%. Industrial production was up 1.0% in July. Initial jobless claims rose by 12,000 to a level of 500,000 for the week ended 8/14.
Weekly Economic Update: August 9-13
Overview: The Fed held constant its target range of 0.0% to 0.25% for the federal funds rate. Productivity fell 0.9% in the 2nd quarter. The trade deficit widened $7.9 billion to $49.9 billion in June. The Treasury recorded a deficit of $165 billion in July. Retail sales rose 0.4% in July. Th...
Fed Keeps 0.0%-0.25% Fed Funds “Target Range”
The Federal Reserve’s monetary policy making committee (the Federal Open Market Committee – FOMC) decided today to keep its target overnight interest rate (the “federal funds rate”) in a target range of 0% to 0.25%. Highlights of Today’s Policy Statement (available here): Underlined text indi...
Weekly Economic Update: Aug 2 - 6
Overview: The economy lost 131,000 jobs in July while the unemployment rate held steady at 9.5%. Consumer credit fell by $1.3 billion in June. The ISM index fell 0.7 point to 55.5 in July; the ISM services index rose 0.5 point to 54.3. Personal income and spending were unchanged in June. Auto ...
Economy lost 131,000 jobs in July; unemployment rate unchanged at 9.5%
July Employment and Unemployment: The Bureau of Labor Statistics (BLS) released a report today on employment and unemployment for July (pdf summary available at http://www.bls.gov/news.release/pdf/empsit.pdf). Highlights of the report:
Weekly Economic Update: July 26-30
Overview: GDP grew at an annual pace of 2.4% in the 2nd quarter of 2010. New home sales rose 23.6% in June. The S&P/Case-Shiller index rose 4.7% in May. Durable orders fell 1.0% in June. Initial jobless claims fell by 11,000 to a level of 457,000 for the week ended 7/24.
Advance Estimate Shows GDP Grew at an Annualized, Real Rate of 2.4% in the 2nd Quarter
The Bureau of Economic Analysis (BEA) released its advance estimate of growth in the inflation-adjusted (“real”) gross domestic product (GDP) for the 2nd quarter of 2010. According to the advance* estimate, annualized GDP growth in the 2nd quarter was 2.4%. This is lower than the 3.2% rate of g...
