March 8, 2021

Wholesale Inventories (January 2021)

- Month/month 1.3% . Previous was +0.3%

Source:  Census  Details: https://www.census.gov/wholesale/pdf/mwts/currentwhl.pdf


March 5, 2021

BLS Employment Situation Report (February 2021)

- Nonfarm Payrolls month/month 379,000. Previous was  166,000

- Unemployment Rate      6.2%. Previous was  6.3%

- Private Payrolls month/month    465,000. Previous was   90,000 

- Manufacturing Payrolls month/month     21,000. Previous was -14,000

- Participation Rate     61.4 %. Previous was 61.4 % 

- Average Hourly Earnings month/month    0.2%. Previous was  0.1%

- Average Hourly Earnings year/year    5.3%. Previous was  5.3%

- Average Workweek    34.6 hrs. Previous was  34.9 hrs

Source:  BLS  Details: https://www.bls.gov/news.release/empsit.nr0.htm


Trade Deficit (January 2021)

- Deficit   $68.3 Billion. Previous was $67.0 Billion

Source:  Census  Details: https://www.census.gov/foreign-trade/statistics/highlights/PressHighlights.pdf



March 4, 2021

Initial Jobless Claims (week ended 2/27/2021)

- Initial Claims seasonally adjusted  745,000. Previous was 736,000  

- Initial Claims  unadjusted, totaled 748,078  an increase of 31,519 (or 4.4%) from previous 

- 4-Week Moving Average seasonally adjusted  790,750. Previous was  807,500

Total receiving regular state UI decreased by 140,129

Total receiving Pandemic UI decreased by 191,803

Total receiving Emergency Pandemic UI decreased by 600,607  

Total receiving any UI decreased by 1,018,763

Source:  Labor Department   Details: https://www.dol.gov/ui/data.pdf


Productivity and Costs  (4thQ2020)

- Nonfarm Productivity - Annual Rate -4.28%.  Previous was -4,8%

- Unit Labor Costs - Annual Rate 6.0%. Previous was 6.8%

Productivity = GDP/hours worked

Source: BLS  Details: https://www.dol.gov/ui/data.pdf


Factory Orders (January 2021)

- Month over Month +2.6% . Previous was +1.6%.  

Source:  Census  Details:  https://www.census.gov/manufacturing/m3/prel/pdf/s-i-o.pdf



March 3, 2021

MBA Mortgage Applications (week ended 2/26/2021) 

- Purchase Index week/week +2.0% .  Previous weeks were -12.0%, -6.0%, -5.0%, +0.1%, -4.0%, 3.0%, +8.0%,-0.8%,-5.0%, +2.0%, -5.0%, 9.9%, +4.0%, and +4.0%

- Refinance Index week/week +0.1%.  Previous weeks  were -11.0%, -5.0%, -4.0%, 11.0%, -5.5%, -5.0%, +20.0%,  -6.0%, +4.0%, +1.0%, +2.0%, -5.0%, +3.8%, and -2.0%

- Composite Index week/week  +0.5%. Previous weeks were -11.4%, -5.1%, -4.1%,8.1%, -4.1%, -1,9%, +16.7%,-4.2%, +0.8%. +1.1%, -1.2%, -0.6%, 5.0%, -0.3%,  -0.5%, and +3.8%

Source:  MBA  


ADP Private Jobs (February 2021)

- Private Jobs month/month 117,000. Previous was 195,000

Source:  ADP  Details: https://adpemploymentreport.com/2021/February/NER/NER-February-2021.aspx


PMI Composite Final  (February 2021)

- Composite 59.5. Previous was 58.7

- Services   59.8.    Previous was 58.3

Source:  Markit Economics


ISM Services Index (January 2021)

- Index   55.3. Previous was 58.7.

Source:  Institute for Supply Management   Details:  https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/services/january/




March 2, 2021

Redbook Chain Store Sales (week ended 2/27/2021)

- Chain Store Sales year/year 4.6%. Previous was 2.9%

- Chain Store Sales month/month -0.3%. Previous was -0.8%.

Source: Redbook Research Inc.


March 1, 2021

Construction Spending  (January 2022)

- Month over Month    +1.7%. Previous was +1.0%

- Year over Year 5.7%.

Source:  Census  Details: https://www.census.gov/construction/c30/pdf/release.pdf


PMI Manufacturing Final  (February 2021)

- Index 58.6. Previous was 59.2

A survey index from the supply side.

Source:  Institute For Supply Management


ISM Manufacturing Index  (February 2021)

- Index 60.8 Previous was 58.7

Source:  Institute for Supply Management




Archive of commentary from previous months is here.