Economic Reports 11/02/07

Summary: Headline factory orders improving slightly, YTD still lagging.

Headline Non Farms shows growth, under the sheets...employed -250K & no longer in labor force +465K; combine for -715K in job erosion.

Factory Orders Sep +0.2% vs prior -3.5% Full Report

Inside the number: ex transportation +1.4%; ex defense +1.3%; with unfilled orders -1.4%.

Durable goods -1.7%; non durable goods +2.1%; industrial machinery -7%; construction machinery -4.7%; YTD -25.7%.

Shipments: FLAT; ex transport +0.8%; ex defense +0.1%; with unfilled orders -1.7%; durable goods -2.1%; non durable goods +2.1%.

YTD Nondefense capital goods ex aircraft; shipments -0.9%; new orders -1.8%.
YTD Consumer durables; shipments -1.1%; new orders -0.5%
YTD Consumer non durables: shipments -0.4%; new orders -0.4%

Nonfarm Payrolls Oct +166K vs prior +96K Full Report

Inside the number: Revisions Aug +93K; Sept +96K from +110K. Unemployment Rate Oct unchanged 4.7%; vs last year 4.4% +0.3%.

Civilian labor force -211K; Employed -250K; Unemployed +38K; Not in labor force +465K

Goods producing -24K; construction -5K; manufacturing -21K; Service providing +190K