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US: Payrolls decline less than expected
Mon, May 5 2008, 07:51 GMT
by KBC Market Research Desk
The US economy lost 20K jobs in April. It was the fourth consecutive month that US employment declined. However, the market expected a loss of 75 jobs. The goods-producing sector lost 110 k jobs (-46 K in the manufacturing) but this loss was for a big part compensated by a rise in employment in the services sector of 90 K. The jobless rate dropped from 5.1 in March to 5.0 in April. Average hourly earnings eased to 0.1% M/M and 3.4 % Y/Y, confirming the slowdown in earnings that was already visible over the previous months. While the headline figure was less negative than expected, the report confirms sharp deceleration in US economic activity.
US factory orders rose 1.4 % in a March after an (upward revised) 0.9 % M/M decline in February. Durable orders were revised up to a 0.1 % increase while nondurable orders rose 2.6 % M/M.
Published on Mon, May 5 2008, 07:56 GMT
Archive
- US: Eco data give no signs of clear improvement yet
Published On Fri, May 16 2008, 09:52 GMT - US: Inflation slows in April
Published On Thu, May 15 2008, 08:02 GMT - US: Import prices and retail sales higher than expected
Published On Wed, May 14 2008, 08:15 GMT - EMU: Retail sales continue to disappoint
Published On Thu, May 8 2008, 07:41 GMT - EMU: PMI results confirmed
Published On Wed, May 7 2008, 07:33 GMT
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