Weekly Economic Update: December 31, 2012 - January 4, 2013

Jan 07 2013

Associated Image

The economy added 155,000 jobs in December as the unemployment rate held steady at 7.8%. The ISM index rose 1.2 points to 50.7 in December while the ISM services index increased 1.4 points to 56.1. Auto sales were down 1.0% in December. Construction spending fell 0.3% in November. Factory orders were unchanged in November. Initial jobless claims rose 10,000 to 372,000 for the week ended 12/29.

• The economy added 155,000 payroll jobs in December as the unemployment rate held steady at 7.8%. The labor force rose by 192,000 as the labor force participation rate held steady at 63.6%. Average monthly job gains of 153,000 in 2012 were equal to average gains in 2011.

• The ISM index rose 1.2 points to 50.7 in December.

• The ISM services index unexpectedly increased 1.4 points to 56.1 in December.

• Auto sales declined 1.0% in December to an annual pace of 15.37 million units. Sales were up 12.9% from a year ago.

• Construction spending unexpectedly declined 0.3% in November.

• Factory orders were unchanged in November.

• Initial jobless claims increased 10,000 to a level of 372,000 for the week ended December 29th.

Bookmark and Share