December 2008 Blog Posts (30)

JDfn Daily Digest - December 5, 2008

U.S. non-farm payrolls fell by an astonishing 533,000 in November, the worst job loss in 34 years. The unemployment rate rose from 6.5% in October to 6.7% in November, the highest jobless rate since October 1993. Average hourly earnings rose by 7 cents, or 0.4%, to $18.30. Over the past three months, payrolls have fallen by an average of 419,000 per month.

White House spokeswoman Dana Perino said President Bush is "very concerned" about the latest unemployment situation and promises… Continue

Added by Jack Lott on December 5, 2008 at 10:10am — No Comments

Nov Nonfarm payroll

THE EMPLOYMENT SITUATION: NOVEMBER 2008

Nonfarm payroll employment fell sharply (-533,000) in November, and

the unemployment rate rose from 6.5 to 6.7 percent, the Bureau of Labor

Statistics of the U.S. Department of Labor reported today. November's

drop in payroll employment followed declines of 403,000 in September and

320,000 in October, as revised. Job losses were large and widespread

across the major industry sectors in… Continue

Added by Adam Horak on December 5, 2008 at 8:50am — No Comments

JDfn Daily Digest - December 4, 2008

The Bank of England's Monetary Policy Committee voted to drop its key lending rate by a full percentage point to 2% -- the lowest level for the benchmark since 1939. The European Central Bank's Governing Council slashed its key lending rate by 75 basis points to 2.5%. The cut is the largest in the ECB's 10-year history.

European Central Bank President Jean- Claude Trichet said the Euro region’s economy will shrink next year for the first time since 2003 after the bank delivered the… Continue

Added by Jack Lott on December 4, 2008 at 11:05am — No Comments

weekly jobless claims Dec 4

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending Nov. 29, the advance figure for seasonally adjusted initial claims was 509,000, a decrease of 21,000 from the previous week's revised figure of 530,000. The 4-week moving average was 524,500, an increase of 6,250 from the previous week's revised average of 518,250.

The advance seasonally adjusted insured unemployment rate was 3.1 percent for the week ending Nov. 22, an… Continue

Added by Adam Horak on December 4, 2008 at 8:47am — No Comments

JDfn Daily Digest - December 3, 2008

The Institute for Supply Management reported that non-manufacturing sectors of the U.S. economy contracted at a record pace during November. The ISM non-manufacturing index fell to 37.3% from 44.4% in October. The decline was broad-based with 17 out of 18 industries reported contraction The decline was larger than expected. Economists were looking the index to fall to 42.7%.

The Labor Department said the productivity of U.S. workers was slightly stronger in the third quarter than… Continue

Added by Jack Lott on December 3, 2008 at 11:27am — No Comments

ISM Non Manufacturing

November 2008 Non-Manufacturing ISM Report On Business®

NMI (Non-Manufacturing Index) at 37.3%

DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country. The national report's information reflects the entire United States, while the regional reports contain primarily regional data from their local vicinities. Also, the information in the regional reports is not used in calculating the results of the national report. The… Continue

Added by Adam Horak on December 3, 2008 at 10:09am — No Comments

US productivity 3rd quarter 2008

PRODUCTIVITY AND COSTS

Third Quarter 2008, revised

The Bureau of Labor Statistics of the U.S. Department of Labor today

reported revised productivity data--as measured by output per hour of all

persons--for the third quarter of 2008. The seasonally adjusted annual rates

of productivity growth in the third quarter were:

1.5 percent in the business sector and

1.3 percent in the nonfarm business sector.

In both sectors,… Continue

Added by Adam Horak on December 3, 2008 at 9:03am — No Comments

Nov ADP

ADP NATIONAL EMPLOYMENT REPORT SHOWS U.S.

EMPLOYMENT DECREASED BY 250,000 PRIVATE SECTOR JOBS IN

NOVEMBER

Largest decrease in private sector employment since November of 2002

private sector employment decreased by 250,000 in November.

The ADP National Employment Report, created by ADP® Employer Services, a division

of Automatic Data Processing, Inc. (ADP), is based on actual payroll data and measures the change in total nonfarm private

employment each… Continue

Added by Adam Horak on December 3, 2008 at 8:52am — No Comments

JDfn Daily Digest - December 2, 2008

President-elect Barack Obama is promising the country's governors that they will play a role in designing an economic recovery plan. Obama told the governors meeting in Philadelphia that "if we're listening to our governors, we'll not only be doing what's right for our states, we'll be doing what's right for our country.”

The National Bureau of Economic Research said the U.S. economy, now officially in recession, may be in the midst of the longest slump in the post- World War II era… Continue

Added by Jack Lott on December 2, 2008 at 10:38am — No Comments

JDfn Daily Digest - December 1, 2008

The Institute for Supply Management reported that manufacturing activity in the United States declined at the fastest pace in 27 years in November. The ISM index fell to 36.2% in November from 38.9% in October. It's the lowest since late 1981. Economists were expecting the ISM index to fall to 37%.

Construction spending fell by a larger-than-expected amount in October, an indication the problems facing developers in the form of a sinking economy and severe credit crisis are deepening… Continue

Added by Jack Lott on December 1, 2008 at 11:37am — No Comments