Free Markets, Free People

Economic Statistics for 31 Mar-1 Apr 16

31 Mar

The Gallup Good Jobs (GGJ) rate was 44.4 percent in March. 

Challenger reports that the number of layoff announcements fell to 48,207 in March.

The Chicago PMI rose from 47.6 to 53.6 in March.

Initial weekly jobless claims rose 11,000 to 276,000. The 4-week average rose 3,500 to 263,250. Continuing claims fell -7,000 to 2.173 million.

The Bloomberg Consumer Comfort Index fell -0.8 points to 42.8 in the latest week.

The Fed’s balance sheet fell $-10.0 billion last week, with total assets of $4.483 trillion. Reserve bank credit fell $-6.2 billion.

The Fed reports that M2 money supply rose by $37.5 billion in the latest week.

1 Apr

Motor vehicle sales slowed sharply in March, down -5.1% to a 16.6M annual rate.

215,000 net new jobs were created in March, as the unemployment rate rose to 5.0%. The labor force participation rate rose to 63.0%. Average hourly earnings rose 0.3%, while the average workweek remained unchanged at 34.4 hours.

The PMI Manufacturing Index was only slightly changed, up 0.2 points to 51.5.

The ISM Manufacturing Index rose from 49.5 to 51.8 in March.

The University of Michigan’s Consumer Sentiment Index rose 1.0 point to 91.0 in March.

Construction spending fell -0.5% in February, but the year-on-year rate of spending was up 10.3%.

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3 Responses to Economic Statistics for 31 Mar-1 Apr 16

  • U3 unemployment rate went from 4.9% in February to 5.0% in March.
    If there had been an increase in the number of persons looking for work, this would be an indicator that an expansion had begun, but it dropped a little.

  • Just weeks ago, India filed a complaint with the World Trade Organization over an increase in fees on H1B visasthat the US imposed on companies with workforces comprised of more than 50 percent foreign workers. A provision included in last year’s federal spending bill tacked on a new $4,000 fee the H1B visas, which India argues is discriminatory to the country under its trade agreement with the US.

  • The US market for tech IPOs has totally frozen over.

    Zero Internet or tech companies went public on US exchanges in the first quarter of 2016. The last time that happened was in the first quarter of 2009, during the depths of the Great Recession, according to data from Dealogic.