Jobless Claims (week ended 6/22/2013)
– New Claims (Seasonally adjusted) 346,000. Previous revised from 354,000 to 355,000.
– 4-week Moving Average 345,750. Previous was 348,500.
– New Claims (unadjusted) 334,978, a decrease of 1,589 from the previous week.
The jobs market is improved from a year ago but appears to have leveled off.
Personal Income and Outlays (May 2013)
– Personal Income Month/Month 0.5%. Previous was +0.0%
– Consumer Spending Month/Month 0.3%. Previous was -0.2%
– Personal Income Year/Year 3.3%. Previous was +2.8%.
– Consumer Spending Year/Year 2.9%. Previous was +2.8%.
The increases in month/month income and spending offset, somewhat, that decrease in per capita disposable income of -9.21% year/year which we noted in yesterday’s GDP report.
Pending Home Sales Index (May 2013)
– Pending Sales Index Level 112.3. Previous was 105.2.
It remains to be seen how the recent sharp increase in rates affects Sales. It should have some affect on sales but not a significant one. Rates are still low.