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Economic Statistics for 5 Dec 14

The Labor Department reports that 321,000 net new jobs were created in November, while the unemployment rate was unchanged at 5.8%. Average weekly hours rose 0.1 hours to 34.6, while average hourly earnings rose 9 cents to $24.66. The labor force participation rate was unchanged at 62.8%. The real rate of unemployment, using the pre-crisis historical average participation rate of 66.2%, rose 0.06% to 10.59%.

In October, the US trade gap narrowed very slightly to $-43.4 billion from a revised $-43.6 billion in September.

Factory orders fell a further -0.7% in October, following September’s -0.5% decline. 

Consumer credit rose $13.2 billion in October, mainly on a $12.3 billion rise in non-revolving credit, which disappoints retailers.

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One Response to Economic Statistics for 5 Dec 14

  • TOKYO (Reuters) – Japan’s economy shrank more than initially reported in the third quarter on declines in business investment, data showed on Monday, surprising markets and backing premier Shinzo Abe’s recent decision to delay a second sales tax hike.

    The hit from an April sales tax hike turned out to be bigger than expected, the revised gross domestic product data indicated, underscoring the challenges Abe and the Bank of Japan face in pulling the world’s third-largest economy sustainably out of deflation.

    The revision to an annualized 1.9 percent contraction from a preliminary 1.6 percent fall confirmed Japan slipped into recession and confounded a Reuters poll projecting a 0.5 percent contraction.