• U.S. Productivity and Labor Costs – Q1 2014

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Nonfarm business sector labor productivity decreased at a 1.7 percent annual rate during the first quarter of 2014. The decrease in productivity reflects increases of 0.3 percent in output and 2.0 percent in hours worked. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the first quarter of 2013 to the first quarter of 2014, productivity increased 1.4 percent as output and hours worked rose 3.2 percent and 1.7 percent, respectively. See the complete report at this link: USDOL-BLS

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• U.S. Initial Unemployment Claims – 03 May 2014

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In the week ending May 3, the advance figure for seasonally adjusted initial claims was 319,000, a decrease of 26,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 344,000 to 345,000. The 4-week moving average was 324,750, an increase of 4,500 from the previous week's revised average. The previous week's average was revised up by 250 from 320,000 to 320,250. The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending April 26, a decrease of 0.1 percentage point from the previous week's unrevised rate of 2.1 percent. The highest insured unemployment rates in the week ending April 19 were in Alaska (4.9), New Jersey (3.5), Connecticut (3.4), Puerto Rico (3.3), California (3.2), Illinois (3.0), Pennsylvania (3.0), Nevada (2.9), Maine (2.6), and Michigan (2.6). The largest increases in initial claims for the week ending April 26 were in New York (+23,523), Massachusetts (+3,983), Rhode Island (+1,080), Oregon (+959), and Delaware (+956), while the largest decreases were in Michigan (- 6,642), New Jersey (-2,269), Pennsylvania (-1,704), Maryland (-1,670), and California (-1,237). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS

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• U.S. Employment Situation – April 2014

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In April, the unemployment rate fell from 6.7 percent to 6.3 percent, and the number of unemployed persons, at 9.8 million, decreased by 733,000. Both measures had shown little movement over the prior 4 months. Over the year, the unemployment rate and the number of unemployed persons declined by 1.2 percentage points and 1.9 million, respectively. Among the major worker groups, unemployment rates declined in April for adult men (5.9 percent), adult women (5.7 percent), teenagers (19.1 percent), whites (5.3 percent), blacks (11.6 percent), and Hispanics (7.3 percent). The jobless rate for Asians was 5.7 percent (not seasonally adjusted), little changed over the year. The number of long-term unemployed (those jobless for 27 weeks or more) declined by 287,000 in April to 3.5 million; these individuals accounted for 35.3 percent of the unemployed. Over the past 12 months, the number of long-term unemployed has decreased by 908,000. The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 7.5 million in April. These individuals were working part time because their hours had been cut back or because they were unable to find full-time work. In April, 2.2 million persons were marginally attached to the labor force, down slightly from a year earlier. (Not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. See the complete report at this link: USDOL-BLS

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• U.S. Payrolls – March 2014

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Private wages and salaries increased $42.3 billion in March, compared with an increase of $17.4 billion in February. Goods producing industries' payrolls increased $10.4 billion, compared with an increase of $7.6 billion; manufacturing payrolls increased $7.0 billion, compared with an increase of $1.6 billion. Services-producing industries' payrolls increased $31.8 billion, compared with an increase of $9.9 billion. Government wages and salaries increased $0.9 billion, compared with an increase of $1.9 billion. See the complete report at this link: USDOC-BEA

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• U.S. Personal Income and Outlays – March 2014

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Personal income increased $78.4 billion, or 0.5 percent, and disposable personal income (DPI) increased $68.0 billion, or 0.5 percent, in March. Personal consumption expenditures (PCE) increased $107.2 billion, or 0.9 percent. In February, personal income increased $54.3 billion, or 0.4 percent, DPI increased $47.6 billion, or 0.4 percent, and PCE increased $54.7 billion, or 0.5 percent, based on revised estimates. Real DPI increased 0.3 percent in March, the same increase as in February. Real PCE increased 0.7 percent in March, compared with an increase of 0.4 percent in February. See the complete report at this link: USDOC-BEA

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• U.S. Initial Unemployment Claims – 26 April 2014

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In the week ending April 26, the advance figure for seasonally adjusted initial claims was 344,000, an increase of 14,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 329,000 to 330,000. The 4-week moving average was 320,000, an increase of 3,000 from the previous week's revised average. The previous week's average was revised up by 250 from 316,750 to 317,000. The advance seasonally adjusted insured unemployment rate was 2.1 percent for the week ending April 19, an increase of 0.1 percentage point from the previous week's unrevised rate of 2.0 percent. The highest insured unemployment rates in the week ending April 12 were in Alaska (4.6), New Jersey (3.3), California (3.2), Puerto Rico (3.2), Pennsylvania (3.1), Connecticut (3.0), Illinois (2.9), Michigan (2.8), Nevada (2.8), and Rhode Island (2.8). The largest increases in initial claims for the week ending April 19 were in New Jersey (+4,652), Connecticut (+2,073), Maryland (+998), Nevada (+402), and Vermont (+202), while the largest decreases were in Texas (-3,118), California (- 2,887), Pennsylvania (-2,738), New York (-1,740), and Indiana (-1,577). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS

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• U.S. Extended Joblessness Dangerously High

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"The stubborn persistence of long-term joblessness – more than six months without a job – has emerged as one of the defining features of the US economy in the aftermath of the financial crisis and recession. ”While short-term unemployment has essentially returned to its pre-recession levels of about 4 per cent, it is elevated long-term unemployment that has kept the overall US jobless rate well above the 5.5 to 6 per cent level that many economists believe to be consistent with America’s traditional economic potential.” See the complete report at this link: Financial Times

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