Employment to Population Ratio Not Improving
A Disappointing Jobs Report – To Say the Least
This morning’s payroll jobs report was a major disappointment. The gain of 74,000 nonfarm payroll jobs (87,000 private sector payroll jobs) in December was less than half the consensus estimate that was looking for a gain of 200,000 nonfarm payroll jobs. ADP/Moody’s had estimated earlier this week t...
Weekly Economic Update: December 23-27, 2013
Personal income rose 0.2% in November while personal spending rose 0.5%. Durable goods orders are up 3.5% in November. New home sales fell 2.1% in November to an annual sales rate of 464,000 units. Initial jobless claims fell 42,000 to 338,000 for the week ended 12/21.
Weekly Economic Update: December 30, 2013 - January 3, 2014
The pending home sales index rose 0.3% in November to a level of 101.7. The Case-Shiller home price index rose 1.0% in October. Construction spending rose 1.0% for November. The ISM index ticked down slightly to a steady 57.0 in December. Motor vehicle sales slowed, down 6.6% to an annual pace of 15...
Weekly Economic Update: December 16-20, 2013
Nonfarm productivity increased a revised 3.0% for the third quarter of 2013, up from the previous estimate of 1.9%. Industrial production increased 1.1% in November. The consumer price index remained unchanged for November, while core CPI increased 0.2%. Housing starts jumped a higher-than-expected ...
Weekly Economic Update: December 9-13, 2013
The U.S. budget deficit widened to $135.2 billion in November. Retail sales increased 0.7% in November. Business inventories rose 0.7% in November. The produce price index fell 0.1% in November while core PPI rose 0.1%. Initial jobless claims rose 68,000 to 368,000 for the week ended 12/7.
JEC response to the 2013 Economic Report of the President
Rep. Kevin Brady (R-TX), chairman of the Joint Economic Committee (JEC), upon filing the Committee’s annual Joint Economic Report for 2013, said the Obama recovery “remains disappointing and continues to shortchange Main Street and middle-class workers.”
Weekly Economic Update: December 2-6, 2013
The ISM index increased 0.9 point to 57.3 in November. Construction spending fell 0.3% in September and increased 0.8% in October. Auto sales jumped up 7.7% in November to an annual pace of 16.41 million units. The trade deficit improved $1.2 billion (2.9%) to $40.6 billion in October. New home sale...
Weekly Economic Update: November 25-29, 2013
Pending home sales fell 0.6% in October to 102.1. Housing starts for September and October are delayed due to data collection issues related to the government shutdown, according to the Census Bureau. Building permits increased 5.2% in September to an annual pace of 0.974 million units and increased...
Weekly Economic Update: November 18-22, 2013
The consumer price index edged down 0.1% in October while the core CPI increased 0.1%. The producer price index edged down 0.2% in October while the core PPI increased 0.2%. Retail sales increased by 0.4% in October. Business inventories rose a more-than-expected 0.6% for September. Existing home sa...
