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October 22, 2013

Weak Jobs Report.

October 22, 2013

Weak Jobs Report.

BLS Employment Situation Report (September 2013)

– Non-farm Jobs +149,000.  August was revised up 45,000 and July was revised down 15,000 for a net gain of +179,000.

– Labor Participation Ratio held at 63.2%.

My Friday newsletter will have the usual detailed analysis of this report.

ICSC-Goldman Store Sales  (week ended October 19, 2013)

– Store Sales Week/Week +1.4%. Previous was -0.7% – Store Sales Year/Year +3.2%. Previous was +1.0%.

Redbook Store Sales  (week ended October 19, 2013)

– Store Sales Year/Year +2.9%. Previous was 3.2%.

The Consumer Metrics Institute Daily Absolute Demand Index has been trending upward since October 14.  Retail shows some improvement from a couple of bad weeks.

Construction Spending (August 2013)

– Construction Spending Month/Month + 0.6%. Previous revised from +0.6% to +1.4% – Construction Spending Year/Year  +7.1%.

While the revisions make the data harder to read I would still rate this as mildly positive.

Richmond Federal Manufacturing Index (October 2013)

– Level is +1.  Previous was 0.