April 2017

Employment Metrics and the Labor Participation Rate

The government records several measures of unemployment levels. The headline news value touts the unemployment rate at “X%”.  The government refers to this as the Official unemployment rate or U3. The U3 is defined as the total number of people without jobs (which occurs when people are without jobs and they have actively looked for work [...]

Employment by Industry

The total number of seasonally adjusted non-farm people employed in the US in February 2017 was 145.80 million. This figure was up 2.24 million (+1.56%) year on year and increased by of 235,000 month on month, (0.16%). The economy continues to create strong overall job growth, averaging 188,000 jobs per month over the past 12 [...]

ISM Manufacturing Index

The Institute for Supply Management’s manufacturing index for March fell 0.5 points to 57.2 month on month, a little lower than analyst expectations. The production sub-index was the main reason for the decline, falling from 62.9 to 57.6. The employment sub-index picked-up 4.7 points to settle at 58.9, which suggest a very strong gain of [...]

Construction Put-in-Place (CPIP)

The US Census Bureau today, (April 3rd) reported that total construction spending non-seasonally adjusted, in constant 2009 dollars increased 5.0% year on year for the 12 months ending February 2017. On a three month year on year comparison, spending rose a slightly lower 3.5%. Private spending grew by 8.5% year on year (y/y), while State [...]

Corporate Profits

Corporate profits (CP) increased by 0.5% quarter on quarter (q/q), in the fourth quarter of 2016. This after rising 5.8% over the previous three months. On year on year basis, CP advanced by a solid 9.3%. In dollar terms CP were 2,150 billion on a seasonally adjusted annual rate (SAAR). CP would have been stronger [...]

GDP Fourth Quarter 2016 and Future Outlook

The annualized GDP growth rate (3rd estimate), of the 4th quarter of 2016 was 2.1%. This was down from the 3rd quarters 3.5% growth rate but stronger than the average 1.7% value over the prior four quarters. Consumer spending was the principal driver, contributing 2.4 percentage points, a jump of 0.4 percentage points over the [...]

China Domestic Prices

China Domestic Prices: Referencing China Metals Weekly, as of March 29th month on month (m/m) long product prices were mostly down. Rebar was the exception rising 2.9% to $491 per tonne. Channel, 16# was down 2.0% m/m but was up by 48% on a year over year comparison. Beam, 25# fell 4.8% w/w, but remains [...]