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2008-05-02 Change in Nonfarm Payrolls

Change in Nonfarm Payrolls (Apr)

Survey -75K
Actual -20K
Prior -80K
Revised -81K

Upside surprise – staying above recession levels, and a lagging indicator.

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2008-05-02 Unemployment Rate

Unemployment Rate (Apr)

Survey 5.2%
Actual 5.0%
Prior 5.1%
Revised n/a

Still trending higher, but not at recession levels, and a lagging indicator as well.

And still very near what the fed considers full employment, putting inflation expectations at risk of elevating for the mainstream.

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2008-05-02 Change in Manufacturing Payrolls

Change in Manufacturing Payrolls (Apr)

Survey -35K
Actual -46K
Prior -48K
Revised n/a

Better than expected, not at recession levels.

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2008-05-02 Average Hourly Earnings MoM

Average Hourly Earnings MoM (Apr)

Survey 0.3%
Actual 0.1%
Prior 0.3%
Revised n/a

Lower than expected, indicating wages still well anchored, at least in this report.

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2008-05-02 Average Hourly Earnings YoY

Average Hourly Earnings YoY (Apr)

Survey 3.6%
Actual 3.4%
Prior 3.6%
Revised n/a

Coming off some but still moving up at a reasonably pace.

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2008-05-02 Average Weekly Hours

Average Weekly Hours (Apr)

Survey 33.7
Actual 33.7
Prior 33.8
Revised n/a

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2008-05-02 Factory Orders

Factory Orders (Mar)

Survey 0.2%
Actual 1.4%
Prior -1.3%
Revised -0.9%

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2008-05-02 Factory Orders TABLE

Factory Orders TABLE

Upside suprise, same story – domestic weak, export sector strong.

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