U.S. Private Sector Employment Jumps More Than Expected In April
(RTTNews) - Private sector employment in the U.S. increased by more than expected in the month of April, according to a report released by payroll processor ADP on Wednesday.
ADP said private sector employment shot up by 192,000 jobs in April after jumping by an upwardly revised 208,000 jobs in March.
Economists had expected private sector employment to climb by 175,000 jobs compared to the addition of 184,000 jobs originally reported for the previous month.
"Hiring was broad-based in April," said ADP chief economist Nela Richardson. "Only the information sector - telecommunications, media, and information technology - showed weakness, posting job losses and the smallest pace of pay gains since August 2021."
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U.S. Existing Home Sales Slump To Ten-Month Low In August
The National Association of Realtors released a report on Thursday showing a sharp pullback by U.S. existing home sales in the month of August. NAR said existing home sales tumbled by 2.5 percent to an annual rate of 3.86 million in August after jumping by 1.3 percent to an annual rate of 3.95 million in July.
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U.S. Leading Economic Index Dips Slightly Less Than Expected In August
A report released by the Conference Board on Thursday showed its reading on leading U.S. economic indicators edged down slightly less than expected in the month of August. The Conference Board said its leading economic index dipped by 0.2 percent in August after falling by 0.6 percent in July. Economists had expected the index to decrease by 0.3 percent.
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Philly Fed Index Indicates Return To Growth In September
A reading on Philadelphia-area manufacturing activity returned to positive territory in the month of September, the Federal Reserve Bank of Philadelphia revealed in a report released on Thursday. The report said the diffusion index for current general activity jumped to a positive 1.7 in September from a negative 7.0 in August, with a positive reading indicating growth.
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U.S. Jobless Claims Unexpectedly Decrease To Nearly Four-Month Low
First-time claims for U.S. unemployment benefits unexpectedly fell to a nearly four-month low in the week ended September 14th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims slid to 219,000, a decrease of 12,000 from the previous week's revised level of 231,000. Jobless claims fell to their lowest level since the week ended May 18th.
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Philly Fed Index Returns To Positive Territory In September
A reading on Philadelphia-area manufacturing activity returned to positive territory in the month of September, the Federal Reserve Bank of Philadelphia revealed in a report released on Thursday.
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U.S. Weekly Jobless Claims Unexpectedly Decrease To 219,000
First-time claims for U.S. unemployment benefits unexpectedly fell to a nearly four-month low in the week ended September 14th, according to a report released by the Labor Department on Thursday.
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Federal Reserve Slashes Rates By 50 Basis Points, Forecasts Continued Rate Cuts
The Federal Reserve on Wednesday announced its widely expected decision to lower interest rates for the first time in over four years, aggressively slashing rates by half a percentage point. With the Fed saying officials have gained greater confidence inflation is moving sustainably toward its 2 percent target, the central bank lowered the target range for the federal funds rate by 50 basis points.
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U.S. Housing Starts, Building Permits Rebound More Than Expected In August
A report released by the Commerce Department on Wednesday showed a substantial rebound by new residential construction in the U.S. in the month of August. The Commerce Department said housing starts spiked by 9.6 percent to an annual rate of 1.356 million in August after plunging by 3.9 percent to a revised rate of 1.237 million in July.
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