| The Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds.
The combined assets of the Old-Age and Survivors Insurance, and Disability Insurance (OASDI) Trust Funds are projected to become depleted in 2033, unchanged from last year, with 77 percent of benefits still payable at that time. The DI Trust Fund will become depleted in 2016, also unchanged from last year’s estimate, with 80 percent of benefits still payable. Source: The 2013 OASDI Trustees Report |
31 May 2013
• U.S. Social Security Depletion Report
• U.S. Consumer Sentiment – May 2013
| The Thomson Reuters/University of Michigan final index of U.S. consumer sentiment in May rose to 84.5 from 76.4 a month earlier.
Source: Bloomberg.com |
• More Than 380,000 Nonemployer Businesses Added to the U.S. Economy
| The number of businesses without paid employees in the U.S. rose 1.7 percent to 22.5 million in 2011, according to a new report released today from the U.S. Census Bureau.
This marked the second straight increase in nonemployer businesses, with all but two states (Louisiana and New Hampshire) posting gains from 2010 to 2011. Source: USDOC-Census |
• U.S. Personal Income And Outlays - April 2013
(Expenditures)
| Personal income decreased $5.6 billion, or less than 0.1 percent, and disposable personal
income (DPI) decreased $16.1 billion, or 0.1 percent, in April.
Personal consumption expenditures (PCE) decreased $20.5 billion, or 0.2 percent. In March, personal income increased $36.2 billion, or 0.3 percent, DPI increased $25.4 billion, or 0.2 percent, and PCE increased $14.2 billion, or 0.1 percent, based on revised estimates. Real disposable income increased 0.1 percent in April, compared with an increase of 0.3 percent in March. Real PCE increased 0.1 percent, compared with an increase of 0.2 percent. Source: USDOC-BEA |
30 May 2013
• U.S. Corporate Profits – Q1 2013
| Profits from current production (corporate profits with inventory valuation and capital
consumption adjustments) decreased $43.8 billion in the first quarter, in contrast to an increase of $45.4
billion in the fourth.
Current-production cash flow (net cash flow with inventory valuation adjustment) - - the internal funds available to corporations for investment -- increased $110.9 billion in the first quarter, in contrast to a decrease of $89.8 billion in the fourth. Source: USDOC-BEA {Part of the GDP report; scroll down to see corporate profits section] |
• U.S. Gross Domestic Product - Q1 2013 (Second Estimate)
(GDP, GNP)
| Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 2.4 percent in the first quarter of 2013 (that
is, from the fourth quarter to the first quarter), according to the "second" estimate released by the Bureau
of Economic Analysis. In the fourth quarter, real GDP increased 0.4 percent. Source: USDOC-BEA |
• U.S. Initial Unemployment Claims Up 10k
[Jobless]
|
In the week ending May 25, the advance figure for seasonally adjusted initial claims was 354,000, an increase of 10,000 from the previous week's revised figure of 344,000 but down 7.3% from the same week a year ago. The 4-week moving average was 347,250, an increase of 6,750 from the previous week's revised average of 340,500.
The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending May 18, unchanged from the prior week's unrevised rate. The highest insured unemployment rates in the week ending May 11 were in Alaska (4.9), Puerto Rico (4.5), New Jersey (3.1), New Mexico (3.1), Connecticut (3.0), California (2.9), Pennsylvania (2.9), Nevada (2.8), Oregon (2.8), Illinois (2.7). The largest increases in initial claims for the week ending May 18 were in South Carolina (+1,263), Tennessee (+1,191), Missouri (+785), Michigan (+634), and Massachusetts (+610), while the largest decreases were in California (-16,334), Georgia (-1,802), Illinois (-1,198), Kentucky (-902), and Ohio (-623). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. Source: USDOL-BLS |
29 May 2013
• U.S. Metropolitan Area Employment, Unemployment
| Jobless rates were lower in April than a year earlier in 276 of the 372 metropolitan areas, higher in 78, and unchanged in 18.
Nonfarm payroll employment was up in 274 metropolitan areas over the year, down in 88, and unchanged in 10. Source: USDOL-BLS |
28 May 2013
• U.S. Consumer Confidence – May 2013
| ”The Conference Board Consumer Confidence Index®, which had improved in April, increased again in May.
”The Index now stands at 76.2 (1985=100), up from 69.0 in April.” Source: The Conference Board |
27 May 2013
• New Connecticut Law – Employment and Military Service
(PA, Public Act)
| This bill aligns Connecticut law with the federal Uniformed Services Employment and Reemployment Rights Act (USERRA), which protects employees who serve or served in the military from workplace discrimination due to their service. Specifically, it extends the employment protections currently afforded to employees who are U. S. armed forces reservists or National Guard members to members of the state armed forces who take time from their employment to perform ordered military duty.
Protections include (1) being permitted a leave of absence when the member is ordered to military duty, including meetings and drills during regular working hours, and (2) protection from loss of vacation or holiday privileges, or prejudice in promotions, continuances, or reappointments of employment due to absences. The bill covers employees serving in (1) Connecticut's organized militia, National Guard, naval militia, or marine corps branch of the naval militia, or (2) any reserve component of the U. S. Army, Navy, Marine Corps, Coast Guard, or Air Force, including the Connecticut National Guard under U. S. C. Title 32 (homeland security). Effecitve October 1, 2013 Source: Connecticut General Assembly |
24 May 2013
• 407 To Die on U.S. Roadways this Weekend
| The National Safety Council today released its estimates of fatalities from traffic crashes for the upcoming Memorial Day holiday weekend, which begins at 6 p.m. on Friday, May 24, and ends at 11:59 p.m. on Monday, May 27.
The Council estimates 407 traffic fatalities and another 43,500 medically consulted injuries may occur over the traditional summer kick-off weekend from motor vehicle collisions. Source: National Safety Council |
• U.S. Durable Goods Manufacturers’ Shipments, Inventories and Orders - April 2013
| New orders for manufactured durable goods in April
increased $7.2 billion or 3.3 percent to $222.6 billion. This increase,
up two of the last three months, followed a 5.9 percent
March decrease.
Excluding transportation, new orders increased 1.3 percent. Excluding defense, new orders increased 2.1 percent. Source: USDOC-Census |
23 May 2013
• U.S. Business Economists Foresee GDP Growth
| ”The panelists estimate 2.4% growth in real GDP from the fourth quarter of 2012 to the fourth quarter of 2013 and suggest an improvement in real GDP growth to 3% in 2014, which is higher than the 1.7% actual growth in 2012.
”The estimates of the annual average percentage change in real GDP are also similar to the earlier surveys; the panelists suggest 2.1% growth for 2013 and 2.9% growth for 2014….” Source: NABE.com |
• U.S. New Home Sales – April 2013
| Sales of new single-family houses in April 2013 were at a seasonally adjusted annual rate of 454,000.
This is 2.3 percent (±12.8%)* above the revised March rate of 444,000 and is 29.0 percent (±20.7%) above the April
2012 estimate of 352,000.
The median sales price of new houses sold in April 2013 was $271,600; the average sales price was $330,800. The seasonally adjusted estimate of new houses for sale at the end of April was 156,000. This represents a supply of 4.1 months at the current sales rate. Source: USDOC-Census |
• U.S. Initial Unemployment Claims Down 23k
[Jobless]
|
In the week ending May 18, the advance figure for seasonally adjusted initial claims was 340,000, a decrease of 23,000 from the previous week's revised figure of 363,000 and down 8.4% from the same week a year ago. The 4-week moving average was 339,500, a decrease of 500 from the previous week's revised average of 340,000.
The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending May 11, unchanged from the prior week's revised rate. The highest insured unemployment rates in the week ending May 4 were in Alaska (5.0), Puerto Rico (4.4), California (3.3), New Jersey (3.2), Connecticut (3.1), New Mexico (3.1), Pennsylvania (3.0), Nevada (2.9), Oregon (2.9) Illinois (2.8), and Wisconsin (2.8). The largest increases in initial claims for the week ending May 11 were in California (+15,060), North Carolina (+1,826), Mississippi (+1,341), Florida (+1,329), and Georgia (+1,118), while the largest decreases were in New Mexico (-754), Oregon (-751), New Jersey (-747), Kentucky (-683), and Tennessee (-488).
Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. Source: USDOL-BLS |
• U.S. Median CEO Pay Reported
| "Median CEO pay has been going in one direction for the past three years: up.
”The head of a typical large public company made $9.7 million in 2012, a 6.5 percent increase from a year earlier that was aided by a rising stock market, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm.” Source: Rep-Am.com |
• Texas Cities Lead Nation in Population Growth
| Eight of the 15 fastest-growing large U.S. cities and towns for the year ending July 1, 2012 were in Texas, according to population estimates released today by the U.S. Census Bureau. The Lone Star State also stood out in terms of the size of population growth, with five of the 10 cities and towns that added the most people over the year.
The fastest-growing municipalities are spread across Texas, from the High Plains of West Texas to the Houston suburbs. San Marcos, along the Interstate 35 corridor between Austin and San Antonio, had the highest rate of growth among all U.S. cities and towns with at least 50,000 people. Its population rose 4.9 percent between 2011 and 2012. Source: USDOC-Census |
22 May 2013
• U.S. Per-Student Spending
(Education)
| Fiscal year 2011 marked the first decrease in per student public education spending since the U.S. Census Bureau began collecting data on an annual basis in 1977, according to new statistics released today (dollars not adjusted for inflation).
The 50 states and the District of Columbia spent $10,560 per student in 2011, down 0.4 percent from 2010. The top spenders were New York ($19,076), the District of Columbia ($18,475), Alaska ($16,674), New Jersey ($15,968) and Vermont ($15,925). Source: USDOC-Census |
• U.S. Existing Home Sales – April 2013
| ”Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.6 percent to a seasonally adjusted annual rate of 4.97 million in April from an upwardly revised 4.94 million in March.
”Resale activity is 9.7 percent above the 4.53 million-unit level in April 2012.” Source: Realtor.org |
• U.S. Unemployment of Foreign-Born Persons
| The unemployment rate for foreign-born persons in the United States was 8.1 percent in 2012, down from 9.1 percent in 2011. The jobless rate of the native born also fell to 8.1 percent in 2012, declining from 8.9 percent in the prior year. Source: USDOL-BLS |
• U.S. Mass Layoffs – April 2013
| The number of mass layoff events in April was 1,174, not seasonally adjusted, resulting
in 119,196 initial claims for unemployment insurance. Over the year, the number of average weekly mass layoff events for April decreased by 61 to 294, and associated average weekly initial claims decreased by 6,791 to 29,799. Source: USDOL-BLS |
20 May 2013
• New Connecticut Law: An Act Concerning Withholding Of Income Tax
(PA. Public Act)
| CT Public Act 13-08 bill allows a Connecticut employer to withhold a portion of an employee's wages as required by another state's income tax laws for an employee who: (1) works for the employer in the other state or (2) resides in the other state. Under current law, Connecticut employers can withhold state income tax for another state only if the other state has a reciprocal agreement with Connecticut. Effective: October 1, 2013 Source: Connecticut General Assembly |
17 May 2013
• U.S. Employment, Unemployment By State – April 2013
| In April, 40 states and the District of Columbia had over-the-month unemployment rate decreases, 3 states had increases, and 7 states had no change. Nonfarm payroll employment increased in 30 states, decreased in 18 states and the district, and was unchanged in 2 states. Source: USDOL-BLS |
• U.S. Consumer Sentiment – May 2013
(Confidence)
| ”Consumer confidence rose in May to the highest level in almost six years as an advancing stock market and cheaper gas prices helped lift Americans’ outlook on the economy.
”The Thomson Reuters/University of Michigan preliminary index of consumer sentiment rose to 83.7 in May, the highest since July 2007, from 76.4 the prior month, a report today showed.” Source: Bloomberg.com |
• U.S. Leading Indicators – April 2013
(LEI, index)
| ”The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.6 percent in April to 95.0 (2004 = 100), following a 0.2 percent decline in March, and a 0.4 percent increase in February.”
Source: The Conference Board |
16 May 2013
• Connecticut Labor Situation
(Employment, unemployment, wages, hours)
| On a seasonally adjusted basis, preliminary estimates indicate Connecticut businesses added 6,300 jobs to nonfarm payrolls in April 2013. The
private sector added 5,800 workers and the public sector increased 500 positions.
The state’s unemployment rate remained unchanged at 8.0% last month. Source: CTDOL |
• “International Migration is Projected to Become Primary Driver of U.S. Population Growth….”
| ”International migration is projected to surpass natural increase (births minus deaths) as the principal driver of U.S. population growth by the middle of this century. ”This scenario would mark the first time that natural increase was not the leading cause of population increase since at least 1850, when the census began collecting information about residents' country of birth. The shift in what drives U.S. population growth is projected to occur between 2027 and 2038, depending on the future level of international migration.” Source: USDOC-Census |
• U.S. Building Permits, Housing Starts – April 2013
(Homes, construction)
| Building Permits: Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,017,000. This is
14.3 percent (±1.0%) above the revised March rate of 890,000 and is 35.8 percent (±1.3%) above the April 2012 estimate of 749,000.
Single-family authorizations in April were at a rate of 617,000; this is 3.0 percent (±0.9%) above the revised March figure of 599,000. Housing Starts: Privately-owned housing starts in April were at a seasonally adjusted annual rate of 853,000. This is 16.5 percent (±5.2%) below the revised March estimate of 1,021,000, but is 13.1 percent (±5.1%) above the April 2012 rate of 754,000. Single-family housing starts in April were at a rate of 610,000; this is 2.1 percent (±4.8%) below the revised March figure of 623,000. The April rate for units in buildings with five units or more was 234,000. Source: USDOC-Census |
• U.S. Average Hourly Earnings – April 2013
(Real, wages, salaries, inflation)
| Real average hourly earnings rose 0.5 percent in April, seasonally adjusted. Average hourly earnings rose 0.2 percent and the CPI-U fell 0.4 percent. Real average weekly earnings were unchanged over the month. Click on chart to enlarge Source: USDOL-BLS |
• U.S. Initial Unemployment Claims Up 32k
[Jobless]
| In the week ending May 11, the advance figure for seasonally adjusted initial claims was 360,000, an increase of 32,000 from the previous week's revised figure of 328,000. The 4-week moving average was 339,250, an increase of 1,250 from the previous week's revised average of 338,000. Click on chart to enlarge The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending May 4, unchanged from the prior week's unrevised rate. The highest insured unemployment rates in the week ending April 27 were in Alaska (5.1), Puerto Rico (4.4), California (3.4), New Jersey (3.3), New Mexico (3.3), Connecticut (3.2), Pennsylvania (3.1), Nevada (3.0), Oregon (3.0), and Wisconsin (3.0). The largest increases in initial claims for the week ending May 4 were in Georgia (+2,212), New Mexico (+1,539), Kentucky (+892), Tennessee (+668), and Ohio (+552), while the largest decreases were in Connecticut (-1,434), New Hampshire (-867), Massachusetts (-756), Wisconsin (-730), and Rhode Island (-702).
Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. Source: USDOL-BLS |
• U.S. Consumer Price Index – April 2013
(Inflation, Cost of Living)
| The Consumer Price Index for All Urban Consumers (CPI-U) increased
1.1 percent over the last 12 months to an index level of 232.531
(1982-84=100). For the month, the index decreased 0.1 percent prior
to seasonal adjustment.
Click on chart to enlarge The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 0.9 percent over the last 12 months to an index level of 228.949 (1982-84=100). For the month, the index decreased 0.2 percent prior to seasonal adjustment. The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.1 percent over the last 12 months. For the month, the index decreased 0.1 percent on a not seasonally adjusted basis. Please note that the indexes for the post-2011 period are subject to revision. The Consumer Price Index for May 2013 is scheduled to be released on Tuesday, June 18, 2013, at 8:30 a.m. (EDT). Source: USDOL-BLS |
15 May 2013
• U.S. Industrial Production & Capacity Utilization – April 2013
| Industrial production decreased 0.5 percent in April after having increased 0.3 percent in March and 0.9 percent in February. Manufacturing output moved down 0.4 percent in April after a decline of 0.3 percent in March. The index for utilities decreased 3.7 percent in April, as heating demand fell back to a more typical seasonal level after having been elevated in March because of unusually cold weather. The output of mines increased 0.9 percent in April. At 98.7 percent of its 2007 average, total industrial production was 1.9 percent above its year-earlier level. The rate of capacity utilization for total industry decreased 0.5 percentage point to 77.8 percent, a rate 0.1 percentage point above its level of a year earlier but 2.4 percentage points below its long-run (1972--2012) average. Source: Federal Reserve |
• U.S. Producer Price Index – April 2013
| The Producer Price Index for finished goods decreased 0.7 percent in April, seasonally
adjusted. Prices for finished goods fell 0.6
percent in March and increased 0.7 percent in February.
At the earlier stages of processing, prices received by manufacturers of intermediate goods declined 0.6 percent, and the crude goods index moved down 0.4 percent. On an unadjusted basis, prices for finished goods advanced 0.6 percent for the 12 months ended April 2013, the smallest 12-month rise since a 0.5-percent increase in July 2012. Source: USDOL-BLS |
14 May 2013
• U.S. Import and Export Price Indexes – April 2013
| U.S. import prices fell 0.5 percent in April following a
0.2 percent decrease in March. Lower prices for both fuel and nonfuel imports contributed to the declines in
each month. Prices for U.S. exports decreased 0.7 percent in April after a 0.5 percent decline in March. Source: USDOL-BLS |
• U.S. Tax Freedom Day Was 18 April…but In Connecticut It’s 13 May
| ”Tax Freedom Day 2013 is April 18th. In 2013, Americans will pay $2.76 trillion in federal taxes and $1.45 trillion in state taxes, for a total tax bill of $4.22 trillion, or 29.4 percent of income. April 18 is 29.4 percent into the year....
”The total tax burden borne by residents of different states varies considerably, due to differing state tax policies and because of the steep progressivity of the federal tax system. This means higher income states celebrate Tax Freedom Day later: Connecticut (May 13), New York (May 6), and New Jersey (May 4). Residents of Mississippi will bear the lowest average tax burden in 2013, with Tax Freedom Day arriving for them on March 29. Also early are Louisiana (March 29) and Tennessee (April 2)....” Source: TaxFoundation.org |
13 May 2013
• U.S. Mass Layoffs – Q1 2013
| In the first quarter of 2013, 914 extended mass layoff events involved 154,374 worker separations, both measures down from first quarter 2012 levels.
Source: USDOL-BLS |
• U.S. Manufacturing and Trade Inventories and Sales - March 2013
| Sales. The combined value of distributive trade sales and manufacturers’
shipments for March, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,269.6
billion, down 1.1 percent (±0.1) from February 2013 and up 1.8 percent (±0.3) from March 2012.
Inventories. Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,640.9 billion, virtually unchanged (±0.1) from February 2013 and up 4.5 percent (±0.5) from March 2012. Inventories/Sales Ratio. The total business inventories/sales ratio based on seasonally adjusted data at the end of March was 1.29. The March 2012 ratio was 1.26. Source: USDOC-Census |
• U.S. Retail Sales – April 2013
| U.S. retail and food services sales for April, adjusted for seasonal
variation and holiday and trading-day differences, but not for price changes, were $419.0 billion, an increase of 0.1 percent (±0.3%) from the
previous month, and 3.7 percent (±0.7%) above April 2012. Total sales for the February through April 2013 period were up 3.7 percent (±0.5%) from the same period a year ago. The February to March 2013 percent change was revised from -0.4 percent (±0.5%) to -0.5 percent (±0.2%). Source: USDOC-Census |
• Connecticut Employer to Close, Layoff 174 in Shelton, Trumbull
| The CTDOL says that First Student, of Shelton and Trumbull, will lay off 174 workers effective 6/30/13; the facilities will close on that date. At least some of those to be laid off are represented by SEIU Local 2001 and by ATU Local 1336.
Source: CTDOL |
10 May 2013
• U.S. Monthly Wholesale Trade - Sales And Inventories - March 2013
| March 2013 sales of merchant wholesalers, except manufacturers’ sales branches and offices,
after adjustment for seasonal variations and trading-day differences but not for price changes, were $414.7 billion, down 1.6 percent (+/-0.4%) from
the revised February level, but were up 1.3 percent (+/-1.1%) from the March 2012 level.
Source: USDOC-Census |
09 May 2013
• U.S. Initial Unemployment Claims Down 4k
[Jobless]
|
In the week ending May 4, the advance figure for seasonally adjusted initial claims was 323,000, a decrease of 4,000 from the previous week's revised figure of 327,000 and down 11.7% from the same week a year ago. The 4-week moving average was 336,750, a decrease of 6,250 from the previous week's revised average of 343,000.
The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending April 27, unchanged from the prior week's unrevised rate. The highest insured unemployment rates in the week ending April 20 were in Alaska (5.2), Puerto Rico (4.4), Connecticut (3.5), New Jersey (3.4), New Mexico (3.3), Rhode Island (3.3), Wisconsin (3.3), California (3.2), Pennsylvania (3.2), and Illinois (3.1) The largest increases in initial claims for the week ending April 27 were in Illinois (+1,744), Oregon (+1,244), New Hampshire (+765), Arkansas (+455), and Maine (+379), while the largest decreases were in California (-3,721), Michigan (-2,993), Wisconsin (-2,623), Massachusetts (-2,487), and Florida (-2,062). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. Source: USDOL-BLS |
08 May 2013
• U.S. College Starting Salaries – Highest-Paying Majors
| "By far, petroleum engineering majors received the top starting salaries with an average of $93,500, nearly $22,000 more than the second highest-paid major, computer engineering at $71,700."
Source: NACEWeb.org |
• U.S. Job Openings And Labor Turnover – March 2013
| There were 3.8 million job openings on the last business day of March, little changed from 3.9 million in
February.
The hires rate (3.2 percent) and separations rate (3.1 percent) were little changed in March.
Click on chart to enlarge Source: USDOL-BLS |
• U.S. Consumer Credit – March 2013
|
• Q1: Consumer credit increased at a seasonally adjusted annual rate of 5-3/4 percent during the first quarter. Revolving credit was little changed, while nonrevolving credit increased at an annual rate of 8 percent.
• Month: In March, consumer credit increased at an annual rate of 3-1/2 percent. Source: Federal Reserve *Note: Nonrevolving credit can be used only once, such as with a car loan or student loan. Revolving credit can be used multiple times, such as with a credit card. |
06 May 2013
• Connecticut Employers in Hartford, Middlebury, and Shelton to Lay Off 879 Workers
| The CTDOL says that AEG Management CT, LLC. d.b.a. XL Center of Hartford will lay off 745 employees between 6/30/13 and 8/30/13; at least some of these workers are represented by AFCME Local 1716 and/or IATSE Local 84
CTDOL also reports that Chemtura Corporation of Middlebury will lay off 39 employees on 7/1/13. And, CTDOL says The William Carter Company including its subsidiary, Carter's Retail, Inc. of Shelton will lay off 95 workers effective 6/30/13. Source: CTDOL |
03 May 2013
• U.S. Employment Situation – April 2013
| The unemployment rate, at 7.5 percent, changed little in April but has
declined by 0.4 percentage point since January.
The number of unemployed persons, at 11.7 million, was also little changed over the month; however, unemployment has decreased by 673,000 since January. Source: USDOL-BLS |
02 May 2013
• U.S. Initial Unemployment Claims Down 18k
[Jobless]
| In the week ending April 27, the advance figure for seasonally adjusted initial claims was 324,000, a decrease of 18,000 from the previous week's revised figure of 342,000 and down 12.7% from the same week a year ago. The 4-week moving average was 342,250, a decrease of 16,000 from the previous week's revised average of 358,250. The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending April 20, unchanged from the prior week's unrevised rate. The highest insured unemployment rates in the week ending April 13 were in Alaska (5.1), Puerto Rico (4.2), New Jersey (3.6), Wisconsin (3.6), California (3.4), Connecticut (3.3), Pennsylvania (3.3), Illinois (3.2), New Mexico (3.2), and Oregon (3.1). The largest increases in initial claims for the week ending April 20 were in Michigan (+6,172), Massachusetts (+4,101), Connecticut (+2,452), Rhode Island (+1,427), and Nevada (+535), while the largest decreases were in California (-16,681), New York (-6,443), Pennsylvania (-3,646), Texas (-3,070), and Indiana (-1,637). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. Source: USDOL-BLS |
• U.S. Productivity and Labor Costs - Q1 2013
| Nonfarm business sector labor productivity increased at a 0.7 percent annual
rate during the first quarter of 2013. The increase in productivity reflects increases of 2.5 percent
in output and 1.8 percent in hours worked. (All quarterly percent changes in
this release are seasonally adjusted annual rates.) From the first quarter of 2012 to the first quarter of 2013, productivity increased 0.9 percent as output and hours worked increased 2.5 percent and 1.5 percent, respectively. Unit labor costs in nonfarm businesses increased 0.5 percent in the first quarter of 2013, as an increase in hourly compensation was greater than the increase in productivity. Unit labor costs rose 0.6 percent over the last four quarters. Source: USDOL-BLS |
• U.S. Balance of Trade – March 2013
(Imports, exports)
| Total March exports of $184.3 billion and imports of $223.1
billion resulted in a goods and services deficit of $38.8 billion, down from $43.6 billion in
February, revised. March exports were $1.7 billion less than February exports of $186.0
billion. March imports were $6.5 billion less than February imports of $229.6 billion.
In March, the goods deficit decreased $4.6 billion from February to $56.1 billion, and the services surplus increased $0.2 billion from February to $17.3 billion. Exports of goods decreased $1.8 billion to $130.3 billion, and imports of goods decreased $6.4 billion to $186.5 billion. Exports of services increased $0.1 billion to $53.9 billion, and imports of services decreased $0.1 billion to $36.6 billion. The goods and services deficit decreased $12.9 billion from March 2012 to March 2013. Exports were down $0.4 billion, or 0.2 percent, and imports were down $13.3 billion, or 5.6 percent. Source: USDOC-BEA |
01 May 2013
• U.S. Metropolitan Area Employment and Unemployment – March 2013
| Jobless rates were lower in March than a year earlier in 306 of the 372 metropolitan areas, higher in 44, and unchanged in 22.
Nonfarm payroll employment was up in 287 metropolitan areas over the year, down in 80, and unchanged in 5. Source: USDOL-BLS |
• U.S. Review of Business Dynamics – Q3 2012
| From June 2012 to September 2012 gross job gains from opening and expanding private sector establishments fell to 6.8 million.
Gross job losses from closing and contracting private sector establishments increased to 6.6 million. Source: USDOL-BLS |
• U.S. Purchasing Managers’ Manufacturing Report – April 2013
| “Manufacturing expanded in April as the PMI™ registered 50.7 percent, a decrease of 0.6 percentage point when compared to March's reading of 51.3 percent. This month's reading reflects the fifth consecutive month of growth in the manufacturing sector.
”A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.” Source: Institute for Supply Management |
• Branford, CT Employer to Lay Off 60
| The CTDOL reports that 454 Life Sciences Corp. of Branford will lay off 60 workers on or about 6/28/13; the organization is apparently not closing down completely.
Source: CTDOL |
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