{"id":191327,"date":"2009-09-02T15:50:00","date_gmt":"2009-09-02T20:50:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/09\/02\/economics-update-158\/"},"modified":"2009-09-02T15:50:00","modified_gmt":"2009-09-02T20:50:00","slug":"economics-update-158","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/09\/02\/economics-update-158\/","title":{"rendered":"Economics Update"},"content":{"rendered":"

Well, the first set of numbers for August job losses have come out, and ADP forecasts a drop of 298K non-farm payroll jobs<\/a>, the lowest number since last September, and the Dickensian-named Challenger, Gray, and Christmas, has reported that there were 76,456 jobs cut<\/a>, well down from July, but about 2K more than June. (Note: these are apples and oranges. The 1st<\/sup> is the total delta in employment, and the 2nd<\/sup> is total layoffs.)=<\/p>\n

These numbers are not good, they are still on the minus side, but they are better, as is the revised BLS numbers for productivity<\/a>, which show a 6.6% annual rate of increase.<\/p>\n

Still, we saw consumer bankruptcies up 24% YoY<\/a>, and they are on a pace to hit 1.4 million this year<\/a>.<\/p>\n

In finance, Treasuries were up<\/a>, and yields down, on the release of the Federal Reserve Board’s minutes, which show a bit more concern about the recovery, and the VIX (V<\/span>olatility I<\/span>ndeX<\/span>) is up<\/a>, which would tend to indicate that the current rally is on its last legs.<\/p>\n

In real estate, mortgage applications fell<\/a>, even though rates were down.<\/p>\n

ADP’s job loss numbers pushed both the dollar<\/a> and crude oil<\/a> down, largely because even though they were an improvement over the prior month, they were worse than forecast.<\/p>\n","protected":false},"excerpt":{"rendered":"

Well, the first set of numbers for August job losses have come out, and ADP forecasts a drop of 298K non-farm payroll jobs, the lowest number since last September, and the Dickensian-named Challenger, Gray, and Christmas, has reported that there were 76,456 jobs cut, well down from July, but about 2K more than June. (Note: …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1094,1080,973,975,1135,1088,1089],"tags":[],"class_list":["post-191327","post","type-post","status-publish","format-standard","hentry","category-campaign-finance","category-currency","category-economy","category-employment","category-energy","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191327"}],"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=191327"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191327\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}