Macroeconomy

  • 2016-02-05 12:15


    --Retransmitting 14:57 ET Thursday Sty; Cuts Reference to March Multifactor Rpt
    --Inflation Adjusted Compensation Up Most Since 2000

    WASHINGTON (MNI) - The low level of U.S. productivity growth for the past five years is a threat to future prosperity, experts agree, and Thursday's report on last year's performance seemed to be more of the same - yet not without some silver linings.

    "It's hard to make a negative 3 sound good," John Glaser, chief of the BLS major sector labor productivity growth branch, told MNI. But, he added, "The underlying theme here for the last five years is that hours keep increasing. You just need more output growth."

    The U.S.

  • 2016-02-05 12:08


    --Updating 9:31 ET Story; Reaction
    --Jan Payrolls +151,000; Unemp 4.920%, Lowest Since Nov 2007
    --Manufacturing Shows a Rare Pop on Non-Durables

    WASHINGTON (MNI) - The January jobs report delivered all the weakishness that Fedwatchers expected and then some, but under the surface the month's losses were unusually concentrated in two peripheral categories.

    January payrolls came in at 151,000, the Bureau of Labor Statistics reported Friday, the least since September.

    Yet the unemployment rate came down to 4.9%, the lowest since November 2007's 4.7% before the financial crisis and matching February 2008.

    The slightly elevated initial claims data lately and the latest Challenger tally of layoff intentions, the most since 2009, had prompted forecasters t

  • 2016-02-05 11:11


    By Yali N'Diaye

    OTTAWA (MNI) - The Canadian Ivey Purchasing Managers Index soared to 66.0 in January from 49.9 in December, reaching its highest level in nearly four years, the Richard Ivey School of Business reported Friday.

    The 16.1-point gain was the largest such increase since February 2011, when the index rose 24.0 points.

    With January advance, which brought the index to its highest level since February 2012, the index moved back above the 50.0 mark to indicate stronger economic activity in Canada.

    The increase was in line with a 9.7-point gain in the price index to 71.6, to which the overall index is sensitive since survey participants' answers are based on dollar amounts of sales rather than volumes.

    Looking at other indices, however, employment fell t

  • 2016-02-05 09:31


    --Jan Payrolls +151,000; Unemp 4.920%, Lowest Since 2007
    --Manufacturing Shows a Rare Pop on Non-Durables
    --Couriers and Private Education Alone Cut 53,000 Jobs

    WASHINGTON (MNI) - The January jobs report delivered all the weakishness that Fedwatchers expected and then some, but under the surface the month's losses were unusually concentrated in two peripheral categories.

    January payrolls came in at 151,000, the Bureau of Labor Statistics reported Friday, the least since September.

    Yet the unemployment rate came down to 4.9%, the lowest since November 2007 before the financial crisis.

    The slightly elevated initial claims data lately and the latest Challenger tally of layoff intentions, the most since 2009, had prompted forecasters to trim their payro

  • 2016-02-05 08:31


    By Yali N'Diaye

    OTTAWA (MNI) - The Canadian trade deficit narrowed to -C$0.6 billion in December, helped by widespread export gains across sectors and regions, Statistics Canada reported Friday.

    The deficit was smaller than what analysts had expected (-C$1.9 billion according to MNI consensus).

    Reinforcing the improvement was the revision to November's data, which now show a deficit of -C$1.6 billion vs. -C$2.0 billion initially reported.

    Overall exports rose 3.9% in December to C$45.4 billion, while imports were up 1.6% to C$45.9 billion.

    In volume terms, exports rose 2.1% - the largest advance since June 2015 - with prices up 1.8%. Import volumes rose 1.5%, with prices edging up 0.1%.

  • 2016-02-05 08:30


    --AHE +12c +2.5% YOY; Dec Trade Bal -$43.4B With Imports +0.3%

    WASHINGTON (MNI) - Once one looks past the Street's projection miss for the top line jobs number, the U.S. January employment report will be considered strong enough to suggest further good economic growth.

    Nonfarm payrolls posted only +151,000 in January, more than 30,000 below expectations, and the net revision for the prior two months was -2,000. Those are disappointing numbers compared to the +279,000 average gain in jobs in Q4:2015, when mild weather might have pulled some hiring forward.

    But the January unemployment rate edged down 0.1 point to 4.9% and Average Hourly Earnings surged 12 cents or +0.5% for a +2.5% pace over the year. Hours also surged.

  • 2016-02-05 08:15


    Repeats Story Initially Transmitted at 17:15 GMT Jan 26/12:15 EST Jan 26

    --Energy Sector Employment Contracts with Oil Prices
    --US Oil Industry 'Hunkered Down for Another Long Year'
    --Recruiters: Pay Sinks for Re-Purposed Energy Sector Workers

    NEW YORK (MNI) - While labor markets around the country are bustling at the start of the year, employment in the beleaguered oil and energy-related sectors continues to contract, according to recruiters.

    Staffing and outplacement consultants, as well as an industry insider, said that even after more than 200,000 job cuts at oil, energy and commodities firms around the world in the last year, the pain continues. Job losses have moved up the ranks to management, and furloughs are in play.

  • 2016-02-05 08:15


    Repeats Story Initially Transmitted at 15:30 GMT Feb 3/10:30 EST Feb 3

    --Seasonal Hiring Dip Muted Amid Strong Demand, Tight Candidate Supply
    --Skills Shortages Push Pay Upward, Modestly, Recruiters Say
    --Winter Storm Thins Hours Worked in January
    --Stock Market Swings Net Little Impact on Recruiting, So Far

    NEW YORK (MNI) - The typical seasonal dip in January hiring was shallower than usual this year, as strong demand for skilled workers and tightening supply persisted, according to recruiters around the country.

    Staffing professionals told MNI that placements did ebb in January from December, but not by as much as expected.

  • 2016-02-05 02:31


    -- Adds context and analyst's comment
    -- Clarifies annual reading

    FRANKFURT (MNI) - Germany's manufacturing orders fell in the last month of 2015, data from the federal statistical office showed Friday, pointing to persistent headwinds in the country's industrial sector, even though orders managed to notch a quarter-on-quarter increase.

    Orders declined by -0.7% on the previous month in adjusted terms, undershooting market expectations of a -0.5% drop and taking orders -1.0% below their previous year's level in nominal terms and -2.7 in real terms.

    The December drop snaps a streak of two strong consecutive month-on-month increases but still leaves the fourth quarter up by +1.0% on the previous three-month period, driven in equal parts by domestic and fore

  • 2016-02-05 02:00


    By Steven Arons

    FRANKFURT (MNI) - Germany's manufacturing orders fell in the last month of 2015, data from the federal statistical office showed Friday, pointing to persistent headwinds in the country's industrial sector, even though orders managed to notch a quarter-on-quarter increase.

    Orders declined by -0.7% on the previous month in adjusted terms, undershooting market expectations of a -0.5% drop and taking orders -1.0% below their previous year's level.

    The December drop snaps a streak of two strong consecutive month-on-month increases but still leaves the fourth quarter up by 1.0% on the previous three-month period, driven in equal parts by domestic and foreign demand.

    They had contracted by -2.7% in the third quarter, highlighting the solid overall rebound