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Job growth decelerated a bit in December after two strong months. The economy gained 148,000 jobs in December after an average gain of 232,000 jobs over the past two months. Economists polled had predicted a 198,000 increase in nonfarm jobs. The unemployment rate, meanwhile, remained steady at 4.1%. Wages increased by 2.5% over the past
READ MOREPrivate-sector hiring was stronger than expected in December, according to payroll processor ADP. Employers added 250,000 jobs, more than the 188,000 jobs forecast by economists. November’s tally was revised down by 5,000, however. Almost all of the December gain was in the service-providing sector, which accounted for 222,000 of the jobs. Within services, the trade/transportation/utilities
READ MOREThe Institute for Supply Management said Wednesday its manufacturing index rose to 59.7%, the second highest reading of the year, from 58.2% in November. Readings over 50% indicate more companies are expanding instead of shrinking. The uptick in the index was better than Wall Street expected. Economists surveyed had forecast the index would slip to
READ MORETreasury yields were mixed on Friday in holiday-thinned trade as U.S. government paper looked to end at levels close to where they had started this year. The 10-year Treasury yield was mostly flat at 2.429%, from 2.432% on late Friday. The benchmark maturity began the year at 2.45%. The 2-year note yield ticked lower to
READ MOREThe U.S. goods trade deficit widened by 2.3% in November to $69.7 billion, the Commerce Department said Thursday. Commerce produces an “advance trade” deficit report that offers an early look on trade patterns during the month. The number reported Thursday was bigger than the $68.7 billion deficit consensus forecast. Exports rose a seasonally adjusted 3%
READ MOREInitial U.S. jobless claims, a tool to measure layoffs, were unchanged at 245,000 in the seven days ended December 23. Economists surveyed had forecast claims to total 239,000. The more stable monthly average of claims rose slightly, up 1,750 to 237,750, the government said Thursday. The number of people already collecting unemployment benefits, known as
READ MOREPending home sales ticked up 0.2% in November, the National Association of Realtors said Wednesday. NAR’s pending-home sales index tracks real estate transactions in which a contract has been signed, but the deal has not yet been closed. November’s increase missed the consensus forecast of a 0.5% monthly gain from economists surveyed. The index reading
READ MOREThe University of Michigan reported consumer sentiment continued to drift lower in December The final reading of its consumer sentiment index was 95.9 versus November’s 98.5 The preliminary reading was 96.8, and economists polled by expected a revised reading of 97.1. This is the lowest reading since September.
READ MORENew-home sales were at a seasonally adjusted annual rate of 733,000 in November, the Commerce Department said Friday. Sales of newly-constructed homes throttled past expectations as the housing recovery picked up steam. November’s number was 17.5% above a downwardly-revised October and 16% higher than a year ago. That easily beat the consensus of a 658,000 selling
READ MOREDurable-goods orders rose 1.3% in November, below the forecast of a 2% gain. The gain was powered by civilian aircraft orders. Excluding transportation, orders fell 0.1%, the government said. Business investment slipped 0.1% in November after four monthly gains, based on a closely followed measure known as core capital goods orders. These orders have climbed
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