∙ U.S. Retail Sales Dropped Off in June 2012

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U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $401.5 billion, a decrease of 0.5 percent (±0.5%) from the previous month, but 3.8 percent (±0.7%) above June 2011. Total sales for the April through June 2012 period were up 4.7 percent (±0.5%) from the same period a year ago. The April to May 2012 percent change was unrevised from -0.2 percent (±0.2%). Retail trade sales were down 0.5 percent (±0.5%) from May 2012, but 3.5 percent (±0.7%) above last year. Nonstore retailers sales were up 10.9 percent (±3.1%) from June 2011 and furniture and home furnishings stores were up 7.8 percent (±2.8%) from last year. Source: USDOC

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∙ U.S. Labor Turnover – May 2012

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May Total Turnover: U.S. employers experienced the loss of 4.092 million workers during May; this included 2.143 million quits, 1.608 million layoffs and discharges, and 0.341 million “other” separations. May’s turnover was higher than that of the prior month, 4.034 million, and of the same month a year ago, 3.912 million. This yielded a monthly turnover level of 3.1% [the number of total separations during the entire month as a percent of total employment] which, if maintained at the same level for the next twelve months would result in an annual turnover rate of 37.2%. This is an increase from 36.0% in April of 2012 and also from 36.0% a year ago, May 2011. May Quits: The monthly quit rate in May was 1.6% or 19.2% if projected for a year. This is the same as for the prior month, but up from 1.5% and 18.0% in May 2011. For the Past 12 Months: Total turnover is actually 36.9%, up from 36.8% in April and 36.0% a year ago. The quit rate on annual basis for the last year is 18.3%, up from 18.2% last month and 16.9% a year ago. Chart: Total turnover would actually be dropping were it not for the increase in quits [click on chart to enlarge]. Source: USDOL

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∙ Boss Hitting On You? Here’s What to Do about It

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”The 22-year-old assistant felt flattered when her 30-year-old boss asked her to lunch. ”But when it came time to go to the restaurant, she was startled to learn that they'd be getting there by motorcycle, with her arms wrapped around his waist. ”Soon after they were seated, instead of discussing their next project, the boss….” Source: Forbes.com

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∙ U.S. Job Openings and Hires – May 2012

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Job Openings: There were 3.669 million jobs open in the U.S. on the last business day of May 2012 [nsa]. This is up from 3,074 million openings in the same month a year ago. Hires: The hires rate, 3.6 percent, was up from 3.4% in April as U.S. employers hired 4.796 million workers as compared to 4.490 million the previous month. Source: USDOL

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∙ Connecticut Compensation Review Board Posts New Opinion

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”Read the following Compensation Review Board Opinion, newly posted to our website: "Morales v. Fedex Ground Package Systems, Inc., (Case No. 5666 CRB-2-11-7) - July 6, 2012.” Source: Connecticut Workers’ Compensation Commission

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∙ U.S. Treasury Deficit for June 2012

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The U.S. Treasury had receipts of $249,658 million in June and outlays of $292,738 million resulting in a deficit for the month of $43,080 million. For the fiscal year to date receipts are $1,734,033 million, outlays are $2,704,557 million, and the deficit $970,524 million. In May 2012 the interest on Treasury debt securities is $30.9 billion, which is 13.3 percent of the total current month Federal Outlays. Source: U.S. Treasury

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∙ U.S. Consumer Sentiment Ebbing Further

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”Consumer sentiment is the lowest since December, with job concerns hitting results, according to data released Friday by the University of Michigan and Thomson Reuters. “The consumer-sentiment index fell to a preliminary July reading of 72 from 73.2 in June. Economists polled by MarketWatch had expected a July reading of 73.” Source: MarketWatch.com

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