Key Economic Indicators – July 9, 2012

*          Total non-farm payroll employment rose 80 thousand to 133.088 million in June, following an increase of 77 thousand in the previous month. Private-sector payrolls increased 84 thousand in the month, while government employment decreased 4 thousand.

*          The number of unemployed persons increased by 129 thousand to 12.749 million. The unemployment rate held steady at 8.2%.

*          The average workweek of production and non-supervisory employees increased by 0.1 to 33.8 hours. Average hourly earnings increased by 5 cents to $19.74.

*          The advance figure for initial claims for unemployment insurance decreased 14 thousand to 374 thousand in the week ending June 30.

*          Sales of domestic cars increased 2.3% in June, while foreign car sales held steady. Total light vehicle (cars and light trucks) sales increased 2.3% in June, after a 4.5% decrease in the previous month. Sales were 14.0 million units in June, at a seasonally adjusted annual rate, compared to 11.5 million in June of 2011, and 11.3 million in June of 2010.

*          New orders for manufactured goods (excluding semiconductors) increased 0.7% in May, while shipments increased 0.5% in May.

*          May construction spending increased 0.9% to $830.0 billion, seasonally adjusted annual rate. Private construction increased 1.6%, while public construction decreased 0.4%.

*          Fixed mortgage rates continued to find new record lows, according to Freddie Mac’s weekly primary mortgage market surveys. The 30-year fixed mortgage rate averaged 3.62% for the week ending July 5, down from the previous week when it averaged 3.66%.

*          The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector contracted in June for the first time since July 2009.

*          In June, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth in the non-manufacturing business activity for the 30th consecutive month.




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