2007-02-01 Change in Nonfarm Payrolls

Change in Nonfarm Payrolls (Jan)

Survey 70K
Actual -17K
Prior 18K
Revised 82K

Last negative number was August – got revised up.

Apart from the unrevised January number, the revised previous numbers don’t look too bad.

(See following report.)

2008-02-01 Unemployment Rate

Unemployment Rate

Survey 5.0%
Actual 4.9%
Prior 5.0%
Revised n/a

Slight downtic.

The Fed calls 4.75% full employment.

So, this is close enough.

2008-02-01 Change in Manufacturing Payrolls

Change in Manufacturing Payrolls (Jan)

Survey -20K
Actual -28K
Prior -31K
Revised -20K

Suspiciously low as a per December durable goods and export numbers.

2008-02-01 Average Hourly Earnings MoM

Average Hourly Earnings MoM (Jan)

Survey 0.3%
Actual 0.2%
Prior 0.4%
Revised n/a

2008-02-01 Average Hourly Earnings YoY

Average Hourly Earnings YoY (Jan)

Survey 3.9%
Actual 3.7%
Prior 3.7%
Revised n/a

Seems to be under control though a weak productivity number could raise unit labor costs.

2008-02-01 Average Weekly Hours

Average Weekly Hours

Survey 33.8
Actual 33.7
Prior 33.8
Revised n/a

Down a bit. Fairly steady.

2008-02-01 RPX Composite 28dy YoY

RPX Composite 28dy YoY (Nov)

Survey n/a
Actual -4.1681
Prior -3.4285
Revised n/a


RPX Composite 28dy Index (Nov)

Survey n/a
Actual 254.3
Prior 255.5
Revised 258.9

November housing was weak.

2008-02-01 U. of Michigan Confidence

U. of Michigan Confidence (Jan F)

Survey 79.0
Actual 78.4
Prior 80.5
Revised n/a

Not bad.

2008-02-01 U. of Michigan TABLE

Both current and expected improved.

U. of Michigan TABLE

2008-02-01 ISM Manufacturing

ISM Manufacturing (Jan)

Survey 47.3
Actual 50.7
Prior 47.7
Revised 48.4

Back to growth mode.

2008-02-01 ISM Prices Paid

ISM Prices Paid (Jan)

Survey 68.0
Actual 76.0
Prior 68.0
Revised n/a

Inflation ripping here.

2008-02-01 Construction Spending

Construction Spending MoM (Dec)

Survey -0.5%
Actual -1.1%
Prior 0.1%
Revised -0.4%

Still bumping along the bottom.

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