Key Economic Indicators – November 5, 2012

  • Total non-farm payroll employment rose 171 thousand to 133.755 million in October, following an increase of 148 thousand in the previous month.   Private-sector payrolls increased 184 thousand in the month, while government employment decreased 13 thousand.
  • The number of unemployed persons increased by 170 thousand to 12.258 million. The unemployment rate edged up to 7.9%, from 7.8% in the previous month.
  • The average workweek of production and non-supervisory employees decreased 0.1 to 33.7 hours. Average hourly earnings decreased by a cent to $19.79, while average weekly earnings decreased by $2.32 to $664.94.  Over the past 12 months, average hourly earnings were up 1.1%, while average weekly earnings were up 0.8%
  • The advance figure for initial claims for unemployment insurance decreased by 9 thousand to 363 thousand in the week ending October 27.
  • Third quarter productivity increased 1.9% (seasonally adjusted annual rate) in the non-farm business sector, the same increase as in the previous quarter. Unit labor costs decreased 0.1% in the third quarter, following a 1.7% increase in the previous quarter.
  • The Employment Cost Index for total compensation rose 0.4%, seasonally adjusted, for the 3-month period ending September 2012. Compensation costs for civilian workers increased 2.0% for the 12-month period ending September 2012.
  • Sales of domestic cars decreased 1.8% in October, while total light vehicle (cars and light trucks) sales decreased 4.4%. Total sales were 14.230 million units in September, at a seasonally adjusted annual rate, compared to 13.294 million in October of 2011.
  • New orders for manufactured goods increased 4.8% in September, while shipments increased 0.9%.
  • September construction spending increased 0.6%. Private construction increased 1.3%, while public construction decreased 0.8%.
  • The S & P/Case-Shiller National U.S. Home Price Index posted annual increases of 1.3% and 2.0% in August, for the 10-city and 20-city composite indices, respectively.
  • The 30-year fixed mortgage rate averaged 3.39% for the week ending November 1, down from last week when it averaged 3.41%.
  • The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in October for the second consecutive month following three months of slight contraction, and the overall economy grew for the 41st consecutive month.
  • The Conference Board’s consumer confidence index, which had increased in September, improved again in October.

Leave a Reply

You must be logged in to post a comment.