Economic Statistics for 8 May 15
Wholesale inventories rose 0.1%, but a -0.2% drop is sales leaves the stock-to-sales ratio at a chubby 1.30.
The March Employment Situation shows 223,000 net new jobs created, with the unemployment rate dropping -0.1% to 5.4%. Labor force participation rose a tick to 62.8%, which is still at 1978 levels. Average hourly earnings rose just 0.1%, while the average workweek is unchanged at 34.5 hours. The already weak February report was revised sharply downwards to 85,000 net new jobs from the already weak initial report of 126,000.