Free Markets, Free People
Economic Statistics for
The following US economic statistics were announced today:
Factory Orders were unchanged in November. Non-durable orders fell -0.6%, but on the plus side, durable orders rose 0.8%. Included in that were a sharp rise in capital goods, which suggests future spending is on the way.
The November Employment Situation indicates that there were 155,000 net new jobs created in November, and the unemployment rate rose to 7.8%. Average hourly earnings rose 0.3%, while weekly hours rose slightly to 34.5 hours. The labor force participation rate held steady at a low 63.6%. At historical labor force participation rates, the unemployment rate would be 11.41%, up from 11.23% in October.
The ISM Non-Manufacturing Index rose 1.4 points to a better-than-expected 56.1.