Economic Statistics for 5 Jul 12
The following statistics were released today on the state of the US economy:
Initial claims for unemployment fell 14,000 in the June 30 week to 374,000, much better than expected. The 4-week moving average fell slightly to 385,750. Continuing claims in rose 4,000 to 3.306 million with the 4-week average falling 3,000 to 3.304 million. The unemployment rate for insured workers is 2.6%, which is unchanged since March.
ADP’s private payroll count shows a better-than-expected rise of 176,000, hopefully pointing to strength for tomorrow’s employment situation.
Unlike the ISM manufacturing index, the ISM Non-Manufacturing Index stayed positive at 52.1, though that’s still slower than last month.
Chain Store Sales had a disappointing June, with many retailers lowering guidance, reporting lower rates of year-on-year growth than in May.
MBA Purchase Applications fell -6.7% last week, with purchases up 1.0%, but refinance applications down -8.0%.
The Challenger Job-Cut Report’s layoff count for June is 37,511, down from 61,887 in May and down from 41,432 in June last year.
The Bloomberg Consumer Comfort Index dropped from last week’s 2-month high to -37.5.