Today is Wednesday, March 10, 2010 On Tuesday, March 9, 2010 the stock markets closed at: DJIA: 10564.38 +11.86 Nasdaq: 2340.68 +8.47 S&P 500: 1140.44 +1.94
Gross Domestic Product
Q4 2009 (second estimate)
Real GDP +5.9%
Productivity Data
4th Qtr of 2009
Productivity +6.9%
Output per Hour +6.2%
Hourly Compensation +1.5%
Unit Labor Costs -4.4%
Output +7.2%
Hours of All Persons +1.0%
The Economic News Brief
The payroll and unemployment report released on February 5 was mostly a disappointing one. While the establishment payroll for November was revised upwards to 64,000, the December report was revised down to -150,000. The preliminary numbers for January came in at -20,000.
The household survey showed that the unemployment rate dipped to 9.7% in January from 10% in December, as employment grew while the labor force remained steady. That has to be seen as encouraging news, but initial unemployment insurance claims trended upwards in January, suggesting that the payroll numbers and the unemployment rate may get worse when revised as more data is reported.
February 6, 2010.
Drop in initial unemployment insurance claims
In the week that ended on February 6 the number of initial unemployment insurance claims fell to 440,000 from 483,000 the previous week. It was a substantial break with several weeks' of slowly increasing number of initial unemployment insurance claims and the most hopeful labor market sign since December last year.
Consumer, Producer, Employer and Import Inflation Data
January 2010
CPI +0.2%
PPI +1.4%(p)
ECI +0.5% 4th Qtr of 2009
U.S. Import Price Index +1.4%
Income and Hourly Earnings Data
February 2010
Average Hourly Earnings +$0.03(p)
Personal Income +0.4% November 2009
Initial Unemployment Claims
week ending February 27, 2010
Initial Claims 469,000
Four-week average 470,750
Employment, Unemployment Rate, and Labor Force Data
February 2010
Unemployment Rate 9.7%
Payroll Employment -36,000(p)
Change in Unemployment Level -430,000 January 2010
Change in Employment Level +541,000 January 2010
Change in Civilian Labor Force Level +111,000 January 2010
Civilian Labor Force Participation Rate 64.7% January 2010
Annual Averages for 2009
Unemployment Rate 9.3% for 2009
Unemployment Level 14,265,000 for 2009
Job Openings and Labor Turnover
January 2010
Latest Job Openings Level 2,724,000(p)
Latest Hires Rate 2.1%(p)
Latest Turnover Rate 3.1%(p)
Mass Layoffs
January 2010
Total Mass Layoff Events 1,761
Change in Total Mass Layoff Events +35
Total Mass Layoff Initial Claimants 182,261
Change in Total Mass Layoff Initial Claimants +29,134
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