U.S. Private Sector Employment Jumps More Than Expected In February
(RTTNews) - A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by more than expected in the month of February.
ADP said private sector employment jumped by 242,000 jobs in February after climbing by an upwardly revised 119,000 jobs in January.
Economists had expected private sector employment to increase by 200,000 jobs compared to the addition of 106,000 jobs originally reported for the previous month.
Meanwhile, the report said annual wage growth for those remaining in their jobs slowed to 7.2 percent in February, reflecting the slowest growth in 12 months.
ADP said annual wage growth for job changers also decelerated to 14.3 percent in February from 14.9 percent in January.
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U.S. Consumer Sentiment Plunges To Lowest Level Since November 2023
A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by much more than previously estimated in the month of February. The University of Michigan said its consumer sentiment index for February was downwardly revised to 64.7 from a preliminary reading of 67.8. Economists had expected the index to be unrevised.
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U.S. Existing Home Sales Pull Back Sharply In January
Existing home sales pulled back sharply in the month of January, according to a report released by the National Association of Realtors on Friday. NAR said existing home sales plunged by 4.9 percent to an annual rate of 4.08 million in January after surging by 2.9 percent to an upwardly revised rate of 4.29 million in December.
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U.S. Leading Economic Index Unexpectedly Decreases In January
Reversing most of the gains from the previous two months, the Conference Board released a report on Thursday showing an unexpected decrease by its reading on leading U.S. economic indicators in the month of January. The Conference Board said its leading economic index fell by 0.3 percent in January following a revised 0.1 percent uptick in December.
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Philly Fed Index Pulls Back Sharply But Still Indicates Growth In February
Philadelphia-area manufacturing activity continued to expand in the month of February, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, although the index of activity in the sector pulled back sharply. The Philly Fed said its diffusion index for current general activity plunged to 18.1 in February after skyrocketing to 44.3 in January.
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U.S. Jobless Claims Rise More Than Expected To 219,000
A report released by the Labor Department showed a modest increase by first-time claims for U.S. unemployment benefits in the week ended February 15th. The Labor Department said initial jobless claims rose to 219,000, an increase of 5,000 from the previous week's revised level of 214,000. Economists had expected jobless claims to inch up to 215,000.
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Philly Fed Index Pulls Back Sharply In February
Philadelphia-area manufacturing activity continued to expand in the month of February, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, although the index of activity in the sector pulled back sharply.
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U.S. Weekly Jobless Claims Rise More Than Expected
A report released by the Labor Department showed a modest increase by first-time claims for U.S. unemployment benefits in the week ended February 15th.
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Fed Officials Want Further Progress On Inflation Before Cutting Rates
Provided the U.S. economy remains near maximum employment, the minutes of the Federal Reserve's latest monetary policy meeting revealed officials want to see further progress on inflation before they consider resuming lowering interest rates.
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