Though still historically high, Americans' confidence in the
economy fell to a six-month low in May, largely dragged down by Democrats'
worsening economic attitudes. Gallup's U.S. Economic Confidence Index averaged
a score of +3 in May, down slightly from April (+5) but eight points below
January's record monthly high (+11).
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Wednesday, June 7, 2017
U.S. Economic Confidence Index fell to six-month low in May, but still well into positive territory
Job Creation Index rebounded to +37 in May, continuing 15-month streak of +30 or higher
Gallup's Job Creation Index was +37 in May, tied with the
record high found in March. This marks 15 straight months of the index reaching
+30 or higher.
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Job openings rose 4.5 percent to series high of 6.0 million in April
The number of job openings increased 4.5 percent to a series
high of 6.0 million by the last business day of April. Over the month, hires
decreased to 5.1 million and separations edged down to 5.0 million.
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April CoreLogic Home Price Index up 1.6 percent from March and 6.9 percent year-on-year
Home prices nationwide, including distressed sales,
increased year over year by 6.9 percent in April 2017 compared with April 2016
and increased month over month by 1.6 percent in April 2017 compared with March
2017, according to the CoreLogic HPI.
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Monday, June 5, 2017
Service sector index dipped 0.6 percent in May, but new job growth still strong
The NMI® registered 56.9 percent, which is 0.6 percentage point lower than the April reading of 57.5 percent. Although the non-manufacturing sector's growth rate dipped in May, the sector continues to reflect strength, buoyed by the strong rate of growth in the Employment Index.
Manufacturing sector index mostly flat in May; pricing pressure slowing
The May PMI® registered 54.9 percent, an increase of 0.1 percentage point from the April reading of 54.8 percent. The slowing of pricing pressure, especially in basic commodities, should have a positive impact on margins and buying policies as this moderation moves up the value chain.
Unit labor costs rose 2.2 percent in 1Q 2017 due entirely to higher hourly compensation
Unit labor costs in the nonfarm business sector increased 2.2 percent in the first quarter of 2017, reflecting a 2.2-percent increase in hourly compensation; productivity was unchanged. Unit labor costs increased 1.1 percent over the last four quarters.
Labor productivity unchanged in 1Q 2017 but up 1.2 percent year-on-year
Nonfarm business sector labor productivity was unchanged during the first quarter of 2017, as both output and hours worked increased 1.7 percent. From the first quarter of 2016 to the first quarter of 2017, productivity increased 1.2 percent, reflecting a 2.5-percent increase in output and a 1.3-percent increase in hours worked.
Factory goods orders slipped in April after five months of increases
Factory goods orders dropped 0.2 percent in April, after an upwardly revised 1.0 percent increase in March. This was the first decline in five months, but still up 4.4 percent year-on-year.
Friday, June 2, 2017
Payroll employment grew by 138,000 in May; unemployment rate at 4.3 percent
Total nonfarm payroll employment increased by 138,000 in May, and
the unemployment rate was little changed at 4.3 percent.
Since January, the
unemployment rate has declined by 0.5 percentage point, and the number of unemployed has decreased
by 774,000.
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Thursday, June 1, 2017
Manufacturing index rises slightly in May, price pressures slowing
The May PMI® registered 54.9 percent, an increase of 0.1 percentage point from the April reading of 54.8 percent. Comments
from the panel generally reflect stable to growing business conditions, with new orders, employment and inventories of raw materials all growing in May compared to April. The slowing of pricing pressure, especially in basic commodities, should have a positive impact on margins and buying policies as this moderation moves up the value chain.
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Initial unemployment claims rise 13,000 in latest report
In the week ending May 27, initial unemployment claims were 248,000, an increase of 13,000 from the previous week's revised level. The 4-week moving average was 238,000, an increase of 2,500 from the previous week's revised average.
Planned job cuts rose sharply in May, but still down 28 percent YTD from 2016
The number of workforce reductions announced by US-based employers rose sharply in May, as planned job cuts totaled 51,692 for the month, although nearly 40 percent of those job cuts were announced by Ford Motor Company.
Employers have announced a total of 214,495 job cuts so far this year, down 28 percent year-on-year.
Private sector employment rose sharply to 253,000 jobs in May
ADP: Private sector employment increased by 253,000 jobs from April to May. This compares to 174,000 jobs the previous month and 58,000 jobs during May of 2016.
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Construction spending dipped 1.4 percent in April but still up 5.8 percent YTD from 2016
Spending
on construction sagged in April as a strong start to the year started to
falter, falling 1.4 percent from March. However, a 0.2% decline in March
was revised to a 1.1% monthly gain. Spending so far in 2017 is 5.8% higher than
in the same period a year ago.
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