Economic Statistics for 3 May 12
The following statistics were released today on the state of the US economy:
Initial claims for unemployment fell 27,000 to a much lower-than-expected level of 365,000.
Nonfarm productivity fell -0.5% in the first quarter on slower output and more hours worked. Unit labor costs rose 2.0% for the quarter.
The ISM’s non-manufacturing composite index slowed to 53.5 from 56.0 in March.
Chain stores are reporting their sales today. In general, sales have been solid, and some retailers are raising earning guidance as a result.
The Bloomberg Consumer Comfort Index fell to -37.6 from -35.8 the prior week.
The Challenger Job-Cut Report shows the layoff count rose to 40,559 in April from 37,880 in March and 36,490 last year.