Tuesday, October 22, 2013

It's The Economy Stupid: A Whole Lot Of Numbers

So many numbers…  

 

Job growth was broad based, but not exactly a big number.  It was below expectations, but not as bad as it COULD have been.  Average Hourly Earnings was a BAD number.  It was an increase of just 0.1% on a monthly basis, 2.1% on an annual basis.  In real terms those end up being negative numbers.  Underemployment Rate was lower at 13.6%, Labor Force Participation Rate was steady at 63.2%, not good numbers, but they haven’t been good for a while so they are just more of the status quo. 

 

Just further proof that the economy is growing very  S  L  O  W  L  Y…   (if at all)

 

Economic Event

Period

Economic Survey

Actual Reported

Original Prior

Revised Prior

Change in Nonfarm Payrolls

Sep

180K

148K

169K

193K

Two-Month Payroll Net Revision

Sep

--

9K

--

--

Change in Private Payrolls

Sep

180K

126K

152K

161K

Change in Manufact. Payrolls

Sep

5K

2K

14K

13K

Unemployment Rate

Sep

7.3%

7.2%

7.3%

--

Average Hourly Earnings MoM

Sep

0.2%

0.1%

0.2%

0.3%

Average Hourly Earnings YoY

Sep

2.1%

2.1%

2.2%

2.3%

Average Weekly Hours All Employ

Sep

34.5

34.5

34.5

--

Change in Household Employment

Sep

--

133

-115

--

Underemployment Rate

Sep

--

13.6%

13.7%

--

Labor Force Participation Rate

Sep

--

63.2%

63.2%

--

Net Long-term TIC Flows

Aug

$31.0B

--

$31.1B

--

Total Net TIC Flows

Aug

--

--

$56.7B

--

Construction Spending MoM

Aug

0.4%

--

0.6%

--

Richmond Fed Manufact. Index

Oct

0

--

0

--

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

225-342-0013

jbroussard@treasury.state.la.us

 

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