However, on a quarter-to-quarter basis, Starts dropped 6.0% and Permits by 3.1% over the prior three-month period (March-June). This is due to a drop in apartment building in the South. Read More
Posts Categorized: Release Observations
Industrial Production Increased 0.4% in August
The August gains came mainly from Manufacturing (a positive contribution of 0.50%, of which almost all came from Durables). Mining added 0.05% and Utilities contributed a decrease of 0.14%. Read More
Unemployment Rate falls 12bp to 7.28%
However, the rate would have risen by 15 basis points but for people leaving the labor force. Overall employment (seasonally adjusted) actually dropped by 115,000 according to the BLS’ Household Survey. (c.f. 169,000 increase in Non-Farm jobs produced by the BLS’ Payroll Survey) Read More
Payroll Survey: 169k Non-farm jobs added in August
Government job growth was flattered by >10,000 new teaching jobs as seasonal adjustment struggles with “back to school”. Similar SA problems with three private sector areas tended to cancel each other out. Read More