Economic Reports 04/06/07
Summary: Seasonal McJobs and weather related rehiring gained 212K net jobs and killed the bond market as interest rates shot up 7 basis points…. while wholesale inventories continue to outstrip sales
Nonfarm Payrolls Mar +180K vs prior 97K Full Report
Inside the number: Unemployment Rate Mar 4.4% vs prior 4.5%, the lowest in 6 years. Jan & Feb revised up total of 32K + 180K = 212K net jobs.
Manufacturing fell -16K, the ninth straight month. Professional & Business Sevices -7K.
Construction adding +56K as weather cleared up and whats already on the books has to be finished. More Mc Jobs with Retail +36K & Service industries +137K.
Richard Moody, chief economist at Mission Residential: "We believe that the underlying trends will not support job growth on the order of that seen in March, particularly as the U.S. economy continues to post below trend GDP growth".
Wholesale Inventories Feb +0.5% vs prior +0.6% Full Report
Inside the number: Wholesale sales 1.2% on a 8.8% increase in petroleum sales due to rising crude costs.
Yoy Inventories +8.3%, Sales +7.1%. Groceries +2.8%, Durable goods sales -0.8%, Lumber & Construction Materials -3%
Better hope it’s a "seasonal" thing… Unadjusted Sales: Total -4.6%; Durable goods -5.6%; Lumber & Construction -9.6%.
Nonfarm Payrolls Mar +180K vs prior 97K Full Report
Inside the number: Unemployment Rate Mar 4.4% vs prior 4.5%, the lowest in 6 years. Jan & Feb revised up total of 32K + 180K = 212K net jobs.
Manufacturing fell -16K, the ninth straight month. Professional & Business Sevices -7K.
Construction adding +56K as weather cleared up and whats already on the books has to be finished. More Mc Jobs with Retail +36K & Service industries +137K.
Richard Moody, chief economist at Mission Residential: "We believe that the underlying trends will not support job growth on the order of that seen in March, particularly as the U.S. economy continues to post below trend GDP growth".
Wholesale Inventories Feb +0.5% vs prior +0.6% Full Report
Inside the number: Wholesale sales 1.2% on a 8.8% increase in petroleum sales due to rising crude costs.
Yoy Inventories +8.3%, Sales +7.1%. Groceries +2.8%, Durable goods sales -0.8%, Lumber & Construction Materials -3%
Better hope it’s a "seasonal" thing… Unadjusted Sales: Total -4.6%; Durable goods -5.6%; Lumber & Construction -9.6%.
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