Economy in Brief: March 2021

The overall EMU unemployment rate was steady in January, off peak, but still elevated. In January of the early members, nine have reported unemployment rates for January. Of those nine, four of them have lower unemployment rates. [...]

• PUA claims extend slightly higher range. • Continuing claims again extend their downward trend. • Insured jobless rate decreases for a sixth week. Initial claims for unemployment insurance rose modestly by 9,000 to 745,000 in the [...]

• Nonfarm worker productivity remains deepest drop in forty years. • Compensation increases moderately. • Unit labor costs surge shaved. Revisions to nonfarm business sector productivity indicated a 4.2% decline during Q4'20 (SAAR, [...]

While manufacturing climbs higher, the services sector remains stuck and nearly unresponsive to stimulus efforts. However, the global services sector did pick up in February rising to 52.8 from 51.6 in January. Emerging markets barely [...]

• Service sector activity declines to lowest level since May. • New orders post biggest component drop. • Pricing improves as delivery speeds slow. The Composite Index of Services Activity from the Institute for Supply Management [...]

• Modest job increase follows upwardly revised January reading. • Reduced growth is broad-based amongst payroll sizes. • Factory workforce size declines. Job market strength moderated last month. The ADP National Employment Report [...]

• Purchase loan applications rise; refinancing applications essentially unchanged. • Mortgage interest rates rise further along with other market rates. The Mortgage Bankers Association Mortgage Loan Applications Index edged up 0.5% [...]

• Sales of cars & light trucks ease. • Domestic passenger car sales fall sharply again. • Imports' share of vehicle market remains firm. Light vehicle sales faltered last month. The Autodata Corporation reported that sales of light [...]