Tag: economic indicators
U.S. Adds Double Expected Number of Jobs in September
336,000
The US economy added 336,000 nonfarm jobs in September, nearly double the 170,000 jobs economists had predicted and surpassing the upwardly revised 227,000 jobs in August, according to government data released yesterday. The latest figure is the largest monthly increase since January. Most of the jobs in September were added in leisure and hospitality (96,000), government (73,000), and healthcare (41,000). Average hourly earnings in September were up 0.2% month-over-month and 4.2% year-over-year, slightly down from estimates of 0.3% and 4.3%. The unemployment rate held steady at 3.8% from the previous month. See all data here.
RV Sales Are Another Leading Recession Indicator
20%
Wall Street Journal: “Shipments of recreational vehicles to dealers have fallen about 20% so far this year, after a 4.1% drop last year, according to data from the RV Industry Association. Multiyear drops in shipments have preceded the last three recessions.”
U.S. Economic Growth Accelerated Last Quarter
2.9%
“U.S. economic growth accelerated last quarter, easing fears of a near-term slowdown but doing little to change the trajectory of a long but weak expansion,” the Wall Street Journal reports. “Gross domestic product expanded at a 2.9% annual rate in the third quarter, the Commerce Department said. That was stronger growth than the second quarter’s pace of 1.4%. Economists surveyed by The Wall Street Journal expected growth at a 2.5% pace for the July-to-September period. Last quarter’s growth rate was the fastest recorded in two years.”
Economy Growing at Fastest Pace in a Decade
3.9%
Rate at which the gross domestic product, the broadest measure of goods and services produced across the economy, grew in the third quarter, the Commerce Department said Tuesday. The agency had previously estimated the third quarter’s growth rate at 3.5%. “The economy expanded at its fastest pace in more than a decade during the spring and summer, showing the U.S. sits on a solid foundation despite increasing global uncertainty,” the Wall Street Journal reports.
Dumb and Duncan
The South Carolina Republican says statistics is traitors.
He says they only help stockbrokers and corporate raiders.
He says that government numbers
Just make us dimmer and dumber,
So let’s get rid of all them durn economic indicators!
