BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Service sector shrinks in November]]>http://www.bloggingstocks.com/2009/12/03/service-sector-shrinks-in-november/http://www.bloggingstocks.com/2009/12/03/service-sector-shrinks-in-november/http://www.bloggingstocks.com/2009/12/03/service-sector-shrinks-in-november/#commentsFiled under: , , , , ,

The Institute of Supply Management reported that the service sector shrank in November. The reading of 48.7 was down from 50.6 in October and much lower than the median of 51.5 expected by analysts.

Why is this number so important? The reason is that the service sector accounts for 80% of US economic activity. A reading below 50 indicates shrinkage in 80% of our economic activity.That is not good news. Dan Cook of IG Markets said: "Seeing the number below 50 there, that to me is pretty harsh."

Continue reading Service sector shrinks in November

Service sector shrinks in November originally appeared on BloggingStocks on Thu, 03 Dec 2009 15:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>inthenewsism surveyIsmSurveyservice sectorServiceSectorThu, 03 Dec 2009 15:40:00 EST<![CDATA[Millions of U.S. workers to see pay raise with minimum wage hike to $7.25]]>http://www.bloggingstocks.com/2009/07/14/millions-of-u-s-workers-to-see-pay-raise-with-minimum-wage-hike/http://www.bloggingstocks.com/2009/07/14/millions-of-u-s-workers-to-see-pay-raise-with-minimum-wage-hike/http://www.bloggingstocks.com/2009/07/14/millions-of-u-s-workers-to-see-pay-raise-with-minimum-wage-hike/#commentsFiled under: , ,

The lowdown on the July 24 increase in the the federal minimum wage? It will be net positive for the U.S. economy.

From the rhetoric of the supply side theorists --- the same people who advocated more than $1 trillion in 2001-2008 upper-income-favoring tax cuts that created the fewest jobs in any eight-year presidency since World War II --- increasing the minimum wage by 10.7 percent to $7.25 per hour will mark the end of the free enterprise system in the United States, or something close to it.

Continue reading Millions of U.S. workers to see pay raise with minimum wage hike to $7.25

Millions of U.S. workers to see pay raise with minimum wage hike to $7.25 originally appeared on BloggingStocks on Tue, 14 Jul 2009 15:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>disposable incomeminimum wageservice sectorServiceSectorTue, 14 Jul 2009 15:00:00 EST<![CDATA[November payroll loss points to likely lower corporate revenue, earnings]]>http://www.bloggingstocks.com/2008/12/03/november-payroll-loss-points-to-likely-lower-corporate-revenue/http://www.bloggingstocks.com/2008/12/03/november-payroll-loss-points-to-likely-lower-corporate-revenue/http://www.bloggingstocks.com/2008/12/03/november-payroll-loss-points-to-likely-lower-corporate-revenue/#commentsFiled under: , ,

Nonfarm private employment decreased an enormous 250,000 in November (pdf) on a seasonally adjusted basis, ADP announced Wednesday.

Meanwhile, the October estimated change in employment was revised to a decrease of 179,000 jobs from the previously-announced decrease of 157,000 jobs.

While manufacturing employment fell 118,000 in November -- its 27th consecutive monthly decline -- the service sector of the economy lost 92,000 jobs -- its second consecutive monthly job loss, and the first back-to-back monthly job loss in that sector since November 2002.

Economist Richard Felson said the November ADP private sector report shows a U.S. economy with few strengths. "It is another distressing report. The fact that the service sector is now registering large job losses is bearish for the economy. Previously, the service sector had been the only sign of strength," Felson said. "Simply, the nation, and the other regions of the world need to create engines of growth to reverse this negative spiral of decreased demand, lower revenue, job losses, decreased demand."

Most of the decline in employment during November was accounted for by job losses at medium-sized companies, which registered a 130,000-job decline. Meanwhile, large businesses cut 41,000 jobs in November. Small businesses cut 79,000 jobs during the month.

Continue reading November payroll loss points to likely lower corporate revenue, earnings

November payroll loss points to likely lower corporate revenue, earnings originally appeared on BloggingStocks on Wed, 03 Dec 2008 09:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ADPemploymenthousingindustryinthenewsjobsprivate sectorservice sectorWed, 03 Dec 2008 09:58:00 EST<![CDATA[Non-farm U.S. private payrolls fall 157,000 in October, more trouble ahead]]>http://www.bloggingstocks.com/2008/11/05/non-farm-u-s-private-payrolls-fall-157-000-in-october-adp-says/http://www.bloggingstocks.com/2008/11/05/non-farm-u-s-private-payrolls-fall-157-000-in-october-adp-says/http://www.bloggingstocks.com/2008/11/05/non-farm-u-s-private-payrolls-fall-157-000-in-october-adp-says/#commentsFiled under: , , ,

Non-farm private employment decreased a whopping 157,000 in October on a seasonally-adjusted basis, ADP announced Wednesday in the ADP National Employment Report (pdf).

Meanwhile, the September estimated change in employment was revised to a decrease of 26,000 from the previously announced decrease of 8,000 jobs, ADP said.

Manufacturing employment fell 85,000 in October -- its 26th consecutive monthly decline. Meanwhile, the service sector of the economy lost 31,000 jobs, the first monthly job loss in the service sector since November 2002.

Economist Richard Felson said the October ADP private sector report offered little good news for the U.S economy.

"It is a large monthly job loss, and even more distressing was the job loss total in the service sector," Dawson said. "Up until now the service sector was creating jobs, helping to prop up the economy. The fact that services lost jobs in a month for the first time in six years is a bad sign for the economy because it removes one of the few remaining bright spots in the job market. Job market conditions have worsened and we're likely to continue to see 100,000-plus job loss months for awhile, I'm afraid."

Continue reading Non-farm U.S. private payrolls fall 157,000 in October, more trouble ahead

Non-farm U.S. private payrolls fall 157,000 in October, more trouble ahead originally appeared on BloggingStocks on Wed, 05 Nov 2008 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>110508ADPfeaturedjob creationjobsmanufacturingservice sectorU.S. economyWed, 05 Nov 2008 11:30:00 EST<![CDATA[U.S. service sector slows less than expected in May]]>http://www.bloggingstocks.com/2008/06/04/u-s-services-sector-slows-less-than-expected-in-may/http://www.bloggingstocks.com/2008/06/04/u-s-services-sector-slows-less-than-expected-in-may/http://www.bloggingstocks.com/2008/06/04/u-s-services-sector-slows-less-than-expected-in-may/#commentsFiled under: ,

Register a mild, positive data point for the U.S. economy. In May, the U.S. service sector slowed at a pace less than economists had expected.

The Institute for Supply Management announced Wednesday that its non-manufacturing or service index nudged lower to 51.7% in May from 52.0 in April. Readings above 50 indicate an expansion; below 50, a contraction. Hence, because the index remained above 50 in May, the expansion in the service sector continued for a second straight month, the ISM said. Economists surveyed by Bloomberg News had expected the services index to decline to 51.0 in May.

Thirteen of the ISM's service industries grew in May. The ISM added that members' comments in May reflected concern about business conditions, including rising costs, and the overall sluggish U.S. economy.

Economic Analysis: Many economists tend to place less emphasis on the ISM services index, compared to the capital-intensive manufacturing index. Still, the services index does provide helpful clues regarding the economy and the May statistic further confirmed that the U.S. at mid-year is experiencing very sluggish, region-specific growth, but not a contraction -- at least not yet. Credit conditions are tight, but credit availability has not been totally shut down. Corporations large and small are tightening their belts, but some business-to-business spending is occurring. Lay-offs are occurring, but so far, there is no tidal wave of layoffs.

U.S. service sector slows less than expected in May originally appeared on BloggingStocks on Wed, 04 Jun 2008 14:36:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Institute for Supply Managementinthenewsinvestmentservice sectorservicesServiceSectorU.S. economyWed, 04 Jun 2008 14:36:00 EST