Challenger Job-Cut Report (August 2013)
– Announced Layoffs 50,462. Previous was 37,701. The weakness is in industrial goods.
This report is based on mass layoffs announced by corporations and gathered by the various states.
ADP Employment Report (August 2013)
– Private Jobs +176,000. Previous revised down slightly to +198,000.
This data is mediocre. About 120,000 more jobs are needed to keep pace with population growth to keep constant the Employment/Population ratio.
Jobless Claims (week ended 8/31/2013)
– New Claims 323,000. Previous was 331,000 – 4-week Moving Average 328,500
Initial claims remain low indicating some health. Keep in mind that the set of people filing jobless claims is about 10% of the people moving in or out of employment each month.
Productivity and Costs (2ndQ2013)
– Nonfarm productivity Quarter/Quarter (seasonally adjusted, annualized) +2.3%. Previous was +1.8%
– Unit labor costs Quarter/Quarter (seasonally adjusted, annualized) +0.0%. Previous was +1.4%.
Productivity is GDP/hours worked and increasing productivity is usually due to technology.
Factory Orders (July 2013)
– Factory Orders Month/Month -2.4%. Previous was +1.5%.
ISM Non-Manufacturing Index (August 2013)
– Index level 58.6. Previous was 56.0.
A reading over 50 indicates growth the service sector is the bulk of the economy.