Private nonfarm payrolls in the US are projected to increase by 207,000 (seasonally adjusted) in tomorrow’s August update from the Labor Department, according to The Capital Spectator’s average econometric point forecast. The projected gain is substantially higher than the reported increase of 161,000 for July. Meanwhile, The Capital Spectator’s average August projection is well above a pair of consensus forecasts, based on surveys of economists.
Daily Archives: September 5, 2013
More Of The Same For Private Payrolls: Moderate Growth
Private payrolls increased at a relatively slow pace last month, rising by a net 176,000 in August vs. the previous month, according to the ADP Employment Report. As expected, the August gain was below July’s revised 198,000 increase. Meanwhile, the Labor Department’s latest weekly update on initial jobless claims brings better news: new filings for unemployment benefits dropped 9,000, falling to 323,000 in seasonally adjusted terms, which is near a 5-year-plus low. Yes, it looks like a mixed bag for updates on the labor market today. In fact, the news is a bit better than it appears once we focus on year-over-year trends.
Mr. Market Reconsiders Disinflation/Deflation Risk
Inflation expectations have fallen moderately this year, but the stock market has trended higher. Is this a sign that the new abnormal is history?