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Manufacturing Growth Slowed In May

TEMPE, Ariz. (UPI) — U.S. manufacturing activity made gains in May but the pace of growth slowed from the previous month, the Institute of Supply Management said Friday. The headline index (the Purchasing Managers’ Index) fell from 54.8 in April to 53.5 in May. Manufacturing expanded for the 34th consecutive month, the institute said. Numbers […]

69,000 Jobs Added; Jobless Rate 8.2 Percent

WASHINGTON (UPI) — U.S. employers added 69,000 jobs in May and the jobless rate ticked higher to 8.2 percent, the U.S. Labor Department said Friday. The jobs gain fell far short of expectations, which predicted an additional 150,000 jobs and for the unemployment rate to remain stable at 8.1 percent. In April, 77,000 jobs were […]

Private Sector Adds 133,000 Jobs In May

ROSELAND, N.J. (UPI) — Payroll firm Automatic Data Processing Inc. said the U.S. economy added 133,000 private sector jobs in May, which fell short of expectations. Economists had forecast an additional 148,000 jobs would be created in the month. On top of falling short of predictions, the payroll firm revised its estimate for April from […]

Commerce Drops GDP Estimate To 1.9 Percent

WASHINGTON (UPI) — The U.S. gross domestic product rose by 1.9 percent on an annual basis in the first three months of 2012, the Commerce Department said Thursday. The figure is a significant drop from the advanced estimate released a month ago that said the GDP rose 2.2 percent in the first quarter. The new […]

Jobless Claims Up By 10,000 In Week

WASHINGTON (UPI) — First-time jobless claims rose by 10,000 in the week ended Saturday, the U.S. Labor Department said. Initial claims for unemployment benefits rose to 383,000, climbing above the previous week’s revised estimate of 373,000. The four-week rolling average, which gives a steadier indication of the direction of jobless claims rose by 3,750 to […]

Long-Term Mortgage Rates At Record Lows

WASHINGTON (UPI) — Average mortgage rates for 30-year, fixed-rate loans fell to record lows for the fifth consecutive week, the Federal Home Loan Mortgage Corp. said Thursday. Average rates for 30-year contracts dropped from 3.78 percent to 3.75 percent with 0.8 points, a record low. Thirty-year mortgage rates averaged 4.55 percent the same week of […]

Layoff Announcements Jumped In May

CHICAGO (UPI) — U.S. employers announced a reduction of 61,887 jobs in May, the most since September, a private research group said. Total job cuts announced for the month were up 53 percent from the previous month’s total of 40,559 announced job cuts, outplacement consultancy Challenger, Gray & Christmas said Thursday. The month’s total is […]

Mortgage Activity Down — Rates, Too

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity fell 1.3 percent in the week ended Friday with interest rates setting record lows. The trade group’s Refinancing Index also fell slightly, declining by 1.5 percent, the MBA said. Interest rates for 30-year, fixed-rate conforming mortgages fell from 3.93 percent to 3.91 percent with […]

Retail Sales Mirror Confidence And Drop

WASHINGTON (UPI) — U.S. retail sales receipts fell 0.5 percent in the week ending Saturday, the fifth consecutive weekly decline, a national trade group said. The International Council of Shopping Centers in Washington said sales dropped week-to-week, but rose 2.9 percent compared to the same week a year earlier. The trade group said the five-week […]

Pending Home Sales Show Market Momentum

WASHINGTON (UPI) — The Pending Home Sales Index fell month-to-month in April, but rose from April 2011, the National Association of Realtors said Wednesday. The index slipped from March’s downwardly revised 101.1 to April’s 95.5, off 5.5 percent. From April 2011, however, the index posted “strong” gains, NAR said, climbing 14.4 percent from 83.5 a […]

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