Okay, the ADP Employment & Initial Jobless Claims numbers came in at better than expected levels. And as usual, the prior period employment numbers were revised upwards. So, there really isn’t very much to find in these numbers, certainly nothing that would lead you to believe that the economy is going to grow any faster than 2%.
Economic Event | Period | Economic Survey | Actual Reported | Original Prior | Revised Prior |
MBA Mortgage Applications | JUN 29 | | -6.7% | -7.1% | |
Challenger Job Cuts YoY | JUN | | -9.4% | -9.4% | |
RBC Consumer Outlook Index | JUL | | 47.0 | 46.1 | |
ADP Employment Change | JUN | 100K | 176K | 133K | 136K |
Initial Jobless Claims | JUN 30 | 385K | 374K | 386K | 388K |
Continuing Claims | JUN 23 | 3300K | 3306K | 3296K | 3302K |
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“The Fed has gone about as if the problem is a shortage of liquidity. That is not the basic problem. The basic problem is uncertainty that the balance sheets of financial firms are credible.”
~ 2009, Anna Schwartz, Economist, 1915-2012
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John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
Ph: 225-342-0013
Fx: 225-342-9721
Email: jbroussard@treasusry.state.la.us
Street Address:
445 North Blvd, 7th Floor
Baton Rouge, LA 70802
Mailing Address:
P.O. Box 44154 Capitol Station
Baton Rouge, LA 70804-4154
Physical Location:
One City Plaza, 7th Floor
Corner of North Blvd & 4th Street
Exit 1B I-110 Convention Street,
Turn Left to get to North Blvd,
Turn Right on North Blvd
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