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U.S. Private Sector Employment Surges Much More Than Expected In June
(RTTNews) - A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. surged by much more than expected in the month of June.
ADP said private sector employment spiked by 497,000 jobs in June after jumping by a downwardly revised 267,000 jobs in May.
Economists had expected private sector employment to increase by 228,000 jobs compared to the addition of 278,000 jobs originally reported for the previous month.
"Consumer-facing service industries had a strong June, aligning to push job creation higher than expected," said ADP chief economist Nela Richardson. "But wage growth continues to ebb in these same industries, and hiring likely is cresting after a late-cycle surge."
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Job openings in the U.S. fell to their lowest level in ten months in July, according to a report released by the Labor Department on Wednesday. The Labor Department said job openings dipped to 7.181 million in July after tumbling to a downwardly revised 7.357 million in June.
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A report released by the Commerce Department on Tuesday showed construction spending in the U.S. unexpectedly edged slightly lower in the month of July. The Commerce Department said construction spending slipped by 0.1 percent to an annual rate of $2.139 trillion in July after falling by 0.4 to a revised rate of $2.141 trillion in June.
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U.S. Manufacturing Index Inches Up In Line With Estimates In August
The Institute for Supply Management released a report on Tuesday showing a slight increase by its reading on U.S. manufacturing activity in the month of August, although the index still indicated the sixth consecutive month of contraction.
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U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.
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Chicago Business Barometer Slumps Much More Than Expected In August
MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
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U.S. Consumer Prices Increase In Line With Estimates In July
Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
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U.S. PCE Price Index Increased In Line With Estimates In July
Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday.
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