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Business News

An Economic Buffet


Lots of economic data today.  It will almost certainly have some impact on the markets.  The S& 500 has started each day higher only to close lower this week.  Will it be a repeat today?  (Fox Business News)

US employers plan to cut about 40,000 jobs in August, down 21% from last August.  Through August job cuts totaled 332,931 this year, down 4% from the 347,095 cuts announced in 2013. Job cuts were heaviest in the technology sector. (Challenger, Gray & Christmas)

The ADP jobs report says the US economy added 204,000 private sector jobs in August.  Additions were across all sectors of the economy.  Small businesses added 80,000 jobs, their first strong performance since the recovery began. (CNBC)

New unemployment claims were up 4000 this week to 302,000. A strong number and at its lowest level since June of 2007. (CNBC)

US productivity was up 2.3% last month.  That was a little weaker than anticipated but still strong.  Labor costs were down 0.1% showing no wage inflation. (Bloomberg)

US consumer sentiment rose in August and an index of current economic conditions hit its highest level since July 2007.  Consumer confidence rebounded in late August due to a positive reassessment of prospects for the national economy,. (Thomson Reuters/University of Michigan)
 


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