Free Markets, Free People

Economic Statistics for 31 Jul 14

The employment cost index rose 0.7% in the 2nd Quarter of 2014, versus a record low 0.3% rise in Q1.

Challenger reports that the 18,000 layoff announcement from Microsoft inflated the July layoff count to 46,887 vs. 31,434 in June.

The Chicago Purchasing Managers Index plunged 10.0 points to 52.6 in July. This is a volatile index, however.

Gallup’s July Payroll to Population employment rate was stable at 45.1%, rising just 0.1% for the month.

The Bloomberg Consumer Comfort Index fell -1.3 points to 36.3 in the latest week, the lowest level in two months.

Weekly initial jobless claims rose 23,000 to 302,000. The 4-week average fell 2,750 to 297,250. Continuing claims rose 31,000 to 2.539 million.

The Fed’s balance sheet fell $-4.1 billion last week, with total assets of $4.407 trillion. Total reserve bank credit rose by $-0.2 billion.

The Fed reports that M2 money supply rose $23.5 billion in the latest week.

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One Response to Economic Statistics for 31 Jul 14

  • USDA tells library that they can’t have a “seed library” because it violated the “Seed Act of 2004”, except according to, the only bill that could have been the “Seed Act of 2004” never got out of committee.
    This might have applied …

    H.R.4693 — 108th Congress (2003-2004) Seed Availability and Competition Act of 2004


    (a) Registration.–Any person who plants patented seed or seed derived from patented seed may retain seed from the harvest of the planted seed for replanting by that person if that person–

    (1) submits to the Secretary of Agriculture notice, in such form as the Secretary may require, of the type and quantity of seed to be retained and any other information the Secretary determines to be appropriate; and

    (2) pays the fee established by the Secretary pursuant to subsection (b) for the type and quantity of seed retained.

    … if had ever gotten out of committee
    Of course, now the intent of any bill is what the federal government says it is, but in this case, they could at least pass the bill into law before trying to enforce it.