Tag Archives: Jobs

Adding new pressures for the Federal Reserve, the nation's economy added 195,000 jobs in June, leaving the unemployment rate unchanged at 7.6.percent, the Bureau of Labor Statistics (BLS) reported Friday. Economists had forecast payrolls would grow by 165,000, and that the unemployment rate would dip to 7.5 percent.

First-time claims for unemployment insurance fell for the fourth time in the last five weeks, dropping 5,000 to 343,000 for week ending June 29, the Labor Department reported Wednesday. The four-week moving average of first-time claims dropped 750 to 345,500. The four-week moving average of continuing claims declined 9,500 to 2,969,250 for the period ending June 22.

First-time claims for unemployment insurance dropped 9,000 to 346,000 for week ending June 22, the Labor Department reported Thursday. Economists expected 345,000 claims. Claims filings for the week ended June 15 were revised up to 355,000 from the originally reported 354,000.

Consumer confidence saw a sizable jump in June, the Conference Board reported in its monthly Consumer Confidence Survey. Based on responses to the Nielsen survey, the index improved for the third consecutive month to 81.4, the highest level since January 2008. May's index was revised downward to 74.3. The Present Situation Index increased to 69.2 from April's revised reading of 64.8, while the Expectations Index rose to 89.5 from the previous month's downwardly revised reading of 80.6.

Fitch Ratings noted that while a deficit in workers may not lead to "disastrous national numbers for housing," it may put a damper on the recovery.

The Conference Board's Leading Economic Index (LEI) for the United States rose 0.1 percent in May to 95.2, a disappointing movement compared to April's 0.8 percent increase. However, experts at the Conference Board note the index's stability is a good sign. "Despite month-to-month volatility, the LEI's six-month growth rate remains steady, suggesting that conditions in the economy remain resilient," said economist Ataman Ozyildirim. The Coincident Economic Index rose 0.2 percent, while the Lagging Economic Index increased 0.3 percent.

Improvements in housing and labor lifted Deloitte's Consumer Spending Index for May, the company reported. The index, which comprises four components--tax burden, initial unemployment claims, real wages, and real home prices--rose to a reading of 4.27 from April's 4.12. The index tracks consumer cash flow as an indicator of future spending. Three out of the four components contributed to May's uptick, according to Daniel Bachman, senior U.S. economist for Deloitte.

Builder confidence surged eight points in June to 52, its highest reading since March 2006, the National Association of Home Builders (NAHB) reported Monday. It was the first positive (above 50) reading for the association├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Housing Market Index (HMI) since April 2006. Two of the three components of the index--builder assessment of current sales and of sales six months in the future--were also positive. The current sales index rose eight points to 56, and the future sales index jumped nine points to 61.

Driven by stronger auto sales but held back by falling gasoline sales, total retail sales increased 0.6 percent in May, the Census Bureau reported Thursday. Excluding auto sales, retail activity increased 0.3 percent in May compared with April, when it was essentially flat.

First-time claims for unemployment insurance fell to 334,000 for week ending June 8, dropping 12,000 after decreasing 11,000 one week earlier, the Labor Department reported Thursday. Economists expected initial claims to increase to 350,000 from the prior week. Claims filings for the week ending June 1 remained at the originally reported 346,000.