Adam Horak's Blog – September 2008 Archive (5)

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT



SEASONALLY ADJUSTED DATA



In the week ending Sept. 20, the advance figure for seasonally adjusted initial claims was 493,000, an increase of 32,000 from the previous week's revised figure of 461,000. It is estimated that the effects of Hurricane Gustav in Louisiana and the effects of Hurricane Ike in Texas added approximately 50,000 claims to the total. The 4-week moving average was 462,500, an increase of 16,000 from the previous… Continue

For immediate release

The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent.



Strains in financial markets have increased significantly and labor markets have weakened further. Economic growth appears to have slowed recently, partly reflecting a softening of household spending. Tight credit conditions, the ongoing housing contraction, and some slowing in export growth are likely to weigh on economic growth over the next few… Continue

CONSUMER PRICE INDEX: AUGUST 2008



The Consumer Price Index for All Urban Consumers (CPI-U) decreased

0.4 percent in August, before seasonal adjustment, the Bureau of Labor

Statistics of the U.S. Department of Labor reported today. The August

level of 219.086 (1982-84=100) was 5.4 percent higher than in August 2007.



The Consumer Price Index for Urban Wage Earners and Clerical Workers

(CPI-W) decreased 0.5 percent in August, prior to seasonal… Continue

The unemployment rate rose from 5.7 to 6.1 percent in August, and non-

farm payroll employment continued to trend down (-84,000), the Bureau of

Labor Statistics of the U.S. Department of Labor reported today. In August,

employment fell in manufacturing and employment services, while mining and

health care continued to add jobs. Average hourly earnings rose by 7 cents,

or 0.4 percent, over the month.



Unemployment (Household Survey Data)



The number… Continue