Free Markets, Free People

Economic Statistics for 7 Jul 16

Chain stores reported mixed sales results for June, sparking uncertainty about the government’s retail sales report.

Challenger reports that layoff announcements totaled 38,536 in June, up from 30,157 in May.

ADP’s Employment Report indicates that 172,000 new private sector jobs were created in June.

Gallup’s Good Jobs Rate for June rose 0.5% to 46.0%.

Initial weekly jobless claims fell 16,000 to 254,000. The 4-week average fell 2,000 to 264,750. Continuing claims fell 44,000 to 2.124 million.

The Bloomberg Consumer Comfort Index fell -0.4 points to 43.5 in the latest week.

The Fed’s balance sheet rose $4.1 billion last week, with total assets of $4.471 trillion. Reserve bank credit fell $-6.3 billion.

The Fed reports that M2 money supply rose by $31.7 billion in the latest week.


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One Response to Economic Statistics for 7 Jul 16

  • “The magic word ‘diversity’ doesn’t seem to apply to age in Silicon Valley,” Matloff said. “Age discrimination is rampant in the industry. We’re not talking about age 55 necessarily — it even occurs at age 35.”

    Pay tends to rise with experience, Matloff noted. “Literally, the bottom line is money,” he said. “The older people are just considered too expensive.”