{"id":189210,"date":"2010-05-05T20:07:00","date_gmt":"2010-05-06T01:07:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/05\/05\/economics-update-58\/"},"modified":"2010-05-05T20:07:00","modified_gmt":"2010-05-06T01:07:00","slug":"economics-update-58","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/05\/05\/economics-update-58\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>The ADP private job report for April is out today, and it reports that <a href=\"http:\/\/money.cnn.com\/2010\/05\/05\/news\/economy\/job_cuts_challenger\/index.htm\">32,000<\/a>, but since the <a href=\"http:\/\/delong.typepad.com\/sdj\/2010\/05\/a-somewhat-worse-adp-payroll-number-than-i-was-expecting.html\">private non-farm workforce needs to grow somewhere in the neighborhood of 130,000 a month<\/a>, this means that unemployment is still increasing.<\/p>\n<p>Additionally, the <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=axwbM.87beDI&amp;pos=3\">Institute for Supply Management&#8217;s Non-Manufacturing Index was 55.5<\/a>, for the 4<sup>th<\/sup> straight month with any number above 50 indicating expansion, though the <a href=\"http:\/\/www.cnbc.com\/\/id\/36961126\">employment component of the index fell<\/a>.<\/p>\n<p>All in all though, better numbers are getting better.<\/p>\n<p>In real estate, <a href=\"http:\/\/www.mortgageorb.com\/e107_plugins\/content\/content.php?content.5837\">mortgage applications rose<\/a>, with the refinance index falling, and the purchase index rising, so this is likely an artifact of the tax credit.<\/p>\n<p>And its the same story as yesterday with regard to Greece and oil and currency, with <a href=\"http:\/\/money.cnn.com\/2010\/05\/05\/markets\/dollar\/index.htm\">people fleeing to safety driving the dollar up<\/a>, and the rising dollar <a href=\"http:\/\/money.cnn.com\/2010\/05\/05\/markets\/oil\/\">pushing oil down<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ADP private job report for April is out today, and it reports that 32,000, but since the private non-farm workforce needs to grow somewhere in the neighborhood of 130,000 a month, this means that unemployment is still increasing. Additionally, the Institute for Supply Management&#8217;s Non-Manufacturing Index was 55.5, for the 4th straight month with &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1089],"tags":[],"class_list":["post-189210","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189210"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189210"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189210\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}