Free Markets, Free People

Economic Statistics for 6 May 15

The MBA reports that mortgage applications fell -4.6% last week, with purchases up 1.0% but refis down -8.0%.

ADP is signaling that Friday’s Employment Situation will be weak, showing just 169,000 new private sector jobs in April.

2015’s weak 1st Quarter economy pulled productivity down by -1.9%, while unit labor costs surged 5.0%. On a year-over-year basis, productivity is up only 0.6%, though labor costs are also restrained at 1.1%.

Gallup’s U.S. Job Creation Index rose 2 points in April to 31.

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