Thursday, October 4, 2012

It's The Economy Stupid: Jobs, Some Got 'Em, Some Don't

Economic Event


Economic Survey

Actual Reported

Original Prior

Revised Prior

Initial Jobless Claims

SEP 29





Continuing Jobless Claims

SEP 22





Challenger Job Cuts YoY






RBC Consumer Outlook Index







The number of Americans filing first-time claims for unemployment insurance payments rose last week, highlighting an uneven improvement in the labor market.


Applications for jobless benefits increased 4,000 to 367,000 in the week ended Sept. 29. Economists had forecast 370,000 claims. Estimates for first-time claims ranged from 355,000 to 380,000 in the Bloomberg survey of 51 economists.


The number of people continuing to collect jobless benefits also was unchanged at 3.28 million in the week ended Sept. 22. The continuing claims figure does not include the number of workers receiving extended benefits under federal programs.  So the real number is actually much higer.


Planned U.S. layoffs declined for the fourth straight month in September, down from a 29-month high a year earlier, according to data from consulting firm Challenger Gray & Christmas Inc.  U.S.-based employers in September said that they planned to cut 33,816 jobs, down 71% from a year earlier. The month marked the fifth time this year that employers have announced fewer job cuts than the same month in 2011.


U.S. consumer sentiment fell in October, according to the RBC Financial Group. The RBC Consumer Outlook Index retreated in October after posting a gain in September.  The 48.4 index number for October was down -4.0% from September’s 50.4.  The index is formulated from a poll of adult consumers.



John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

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