News

BLS Releases October 2017 Employment Situation (Nov. 2017)

11.03.2017

Employers added 261,000 nonfarm payroll jobs in October of 2017, according to the Bureau of Labor Statistics.  The unemployment rate moved down to 4.1 percent.

Job gains occurred in professional and technical services, manufacturing, and health care, offsetting a sharp decrease in food services and drinking places employment due to the September hurricanes. The number of jobs in professional and business services increased by 50,000 over the month, while manufacturing gained 24,000 jobs and health care gained 22,000 jobs.

 Job growth in September 2017 was revised to 18,000, up from the initially estimated -33,000.  Over the past three months, job growth has averaged 162,000 additions a month. 

Average hourly earnings rose by five cents to $26.53. Over the year, average hourly earnings have risen 2.4 percent.  

The full BLS press release on the October 2017 employment situation can be accessed in the link below:

The next employment situation report for November 2017 will be released on Friday, December 8, 2017. 

BEA Releases Advance Estimate of Third Quarter GDP (Oct. 2017)

10.27.2017

The Bureau of Economic Analysis released its “advance” estimate of third quarter 2017 Gross Domestic Product.  The advance estimate is based on source data that is subject to further revision.

The advance estimate shows that real GDP increased at an annual rate of 3.0 percent during the third quarter of 2017.  In the second quarter of 2016, real GDP increased 3.1 percent (revised).

The increase in real GDP in the second quarter reflected increases in personal consumption expenditures, private inventory investment, nonresidential fixed investment, exports, and federal government spending. These increases were partly offset by a decrease in residential fixed investment and state and local government spending.  Imports, which is subtracted in the GDP calculation, decreased. 

The full BEA press release on the advance estimate of third quarter GDP can be accessed in the link below:

The next release—for the second estimate of third quarter GDP 2017 and for the preliminary estimate of corporate profits will be released on November 29, 2017. 

BLS Releases September 2017 Employment Situation (Oct 2017)

10.13.2017

The unemployment rate moved down to 4.2 percent. Nonfarm payroll employment was little changed at -33,000.  A decline was seen in employment at food services and drinking places likely due to the impact of Hurricanes Harvey and Irma.

Job gains occurred in health care, transportation and warehousing, and financial activities. The number of jobs in health care increased by 23,000 over the month, while transportation and warehousing gained 22,000 jobs and financial activities gained 10,000 jobs.

Job growth in August 2017 was revised to 169,000, up from the initially estimated 156,000.  Over the past three months, job growth has averaged 91,000 additions a month. 

Average hourly earnings rose by twelve cents to $26.55. Over the year, average hourly earnings have risen 2.9 percent.  

The full BLS press release on the September 2017 employment situation can be accessed in the link below:

The next employment situation report for October 2017 will be released on Friday, November 3, 2017. 

BLS Releases September 2017 Consumer Price Index (Oct. 2017)

10.13.2017

According to the Bureau of Labor Statistics, the Consumer Price Index for all urban consumers (CPI-U) increased 0.5 percent in September of 2017 on a seasonally-adjusted basis.  An increase in the index for gasoline was the main contributor to the monthly increase, as the gasoline index rose 13.1 percent.

Excluding the volatile costs of food and energy, the index for all items less food and energy rose by 0.1 percent in September.  Many indexes increased in September including those for motor vehicle insurance, recreation, education, and wireless telephone services.

The all items index has risen 2.2 percent over the last 12 months ending in September, with the 12-month change accelerating since it was 1.6 percent in June.

The full press release can be found via the link below.

BEA Releases Third Estimate of Second Quarter GDP and Revised Estimate of Second Quarter Corporate Profits (Sept. 2017)

09.28.2017

The Bureau of Economic Analysis released its “third” estimate of second quarter 2017 Gross Domestic Product.  The third estimate is based on more complete data than the “second” estimate.

The second estimate shows that real GDP increased at an annual rate of 3.1 percent during the second quarter of 2017.  In the first quarter of 2016, real GDP increased 1.2 percent (revised).

The increase in real GDP in the second quarter reflected increases in personal consumption expenditures, nonresidential fixed investment, exports, federal government spending, and private inventory investment. These increases were partly offset by a decrease in residential fixed investment and state and local government spending.  Imports, which is subtracted in the GDP calculation, increased. 

Corporate profits from current production increased $14.4 billion in the second quarter, compared to a decrease of $46.2 billion in the first quarter. 

The full BEA press release on the third estimate of second quarter GDP can be accessed in the link below:

The next release—for the advance estimate of third quarter GDP 2017 will be released on October 27, 2017.