Key Economic Indicators – March 10, 2014

  • Total non-farm payroll employment increased 175 thousand in February, following an increase of 129 thousand in the previous month.   Private-sector payrolls increased by 162 thousand in the month, while government employment increased by 13 thousand.
  • The unemployment rate increased to 6.7% in February, from 6.6% in January.
  • The average workweek of all employees on private nonfarm payrolls decreased 0.1 to 34.2 hours. Average hourly earnings increased 0.4%.
  • The advance figure for initial claims for unemployment insurance decreased 26 thousand to 323 thousand in the week ending March 1.
  • In January, international trade deficit was $39.1 billion, $0.1 billion more than the revised December figure.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of March 6th showed average fixed mortgage rates moving down.
  • Mortgage applications increased 9.4% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending March 5th.

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