Key Economic Indicators – July 8, 2013

  • Total non-farm payroll employment rose 195 thousand to 135.902 million in June, in line with the average monthly gain of 182 thousand over the prior 12 months.
  • The unemployment rate was unchanged at 7.6%.
  • The average workweek of all employees on private nonfarm payrolls was unchanged at 34.5 hours. Average hourly earnings increased by 10 cents to $24.01.  Over the past 12 months, average hourly earnings were up 2.2%.
  • The advance figure for initial claims for unemployment insurance decreased 5 thousand to 343  thousand in the week ending June 29th.
  • Sales of domestic cars increased 8.0% in June, while total light vehicle (cars and light trucks) sales increased 4.3% Total vehicle sales were 15.890 million units in June, at a seasonally adjusted annual rate, compared to 14.334 million in  June of last year.
  • New orders for  manufactured goods increased 2.1% in May, while shipments increased 1.0%.
  • In May international trade deficit was $45.0 billion, $4.9 billion more than the revised April figure.
  • Construction spending increased 0.5% in May. Private construction held steady, while public construction increased 1.8%.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of July 3rd showed average fixed mortgage rates reversing course after last week’s big jump that took rates to their highest levels since mid-2011.
  • Mortgage applications  decreased 11.7% from a week earlier, according to data from Mortgage  Bankers Association’s (MBA) Weekly Applications Survey for the week ending  June 28th.
  • The Institute for  Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in June following one month of contraction,  and the overall economy grew for the 49th consecutive month.
  • In June, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth for the 42nd consecutive month.


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