Friday’s headline U3 unemployment rate of 6.1% for April is probably an undercount of the number of out-of-work people in the United States, not by design, but by the peculiar circumstances of the pandemic. … READ MORE >
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U.S. employment report: Economy added a disappointing 266,000 jobs in April
An easing of commercial restrictions, mass vaccinations and pent-up demand racing ahead of the overall reopening of the economy bolstered hiring in April to the tune of 266,000 jobs as the unemployment rate increased to 6.1%, according to government data released Friday. … READ MORE >
Jobless claims: More good news from the labor market
First-time jobless claims declined to 498,000 for the week of May 1 from an upwardly revised 590,000 during the previous week as continuing claims remained elevated at 3.69 million, according to government data released Thursday. … READ MORE >
RSM UK Financial Conditions Index: Setting the stage for recovery
The RSM UK Financial Conditions Index, at roughly one standard deviation above neutral financial conditions, shows that the appetite to take risk is supporting economic growth and recovery. … READ MORE >
CHART OF THE DAY: Capital goods shipments maintain upward trajectory
Monthly shipments of nondefense capital goods increased by nearly 5% during the first three months of the year compared to the months before the pandemic-induced economic shutdown. … READ MORE >
CHART OF THE DAY: Strong automobile demand amid supply chain disruptions
The demand for automobiles continues to rise amid reports of chip shortages that are hurting production. This suggests that there will be strong profit margins in the auto manufacturing sector despite the missed opportunities to meet robust demand. … READ MORE >
Employment report preview: Expect a gain of 1.4 million jobs in April
With nearly 150 million Americans having received at least one dose of a COVID-19 vaccine, we expect a net increase in employment of roughly 1.4 million jobs in April, with risk of a much larger gain in private-sector employment. We expect the unemployment rate to fall to 5.7%. … READ MORE >
CHART OF THE DAY: Manufacturers wrestle with disruptions, shortages and rising prices
Manufacturing growth eased from its breakneck pace in April as supply chain bottlenecks and material shortages increase backlogs and limit production efforts. … READ MORE >
Employment in the middle market is set for reconstruction following a difficult year
Forward-looking components in the RSM US Middle Market Business Index imply that midsize firms are ready to expand hiring and bolster compensation over the next six months as the real economy reopens and enters a hyper-competitive post-pandemic period. … READ MORE >
Personal income rises 21.1% in March, with savings up 27.6%
The impact of the $1.9 trillion in fiscal aid put on the table this year bolstered U.S. personal income by a record 21.1% in March, resulting in a 4.2% increase in personal spending. Income excluding government transfers increased by 0.9% on the month. Compensation increased by 1%, while wages and … … READ MORE >