Weekly jobless claims higher than expected despite signs of labor market improvement

PUBLISHED THU, APR 1 20218:30 AM Jeff Cox@JEFF.COX.7528@JEFFCOXCNBCCOM First-time claims for jobless benefits were higher than expected last week, with 719,000 more workers heading to the unemployment line, the Labor Department reported Thursday. The total compared with the 675,000 estimate from Dow Jones and was above last week’s downwardly revised 658,000. While the number ofRead More

Private payrolls hiring bursts at fastest pace since September on rise in hospitality hiring

PUBLISHED WED, MAR 31 20218:15 AM Jeff Cox@JEFF.COX.7528@JEFFCOXCNBCCOM Private payrolls in March expanded at the fastest pace since September as anticipation of a strong economic rebound coupled with aggressive vaccination rates pushed companies to hire, according to a report Wednesday from payroll processing firm ADP. Companies added 517,000 workers for the month, a healthy spikeRead More

Consumer confidence surges to a pandemic high as hiring and the U.S. economy speed up

By Jeffry Bartash   U.S. consumer confidence index climbs to 109.7 from 90.4   The numbers: Consumer confidence surged in March to a one-year high as more Americans got vaccinated and the government doled out $1,400 stimulus checks in a boost to the economy. The index of consumer confidence shot up to 109.7 this month fromRead More

Global Steel Output Slowing Again

Steel production declined about -8.8% worldwide from January to February, with notable tonnage decreases in all of the largest producer nations, but the year-over-year result showed an encouraging 4.1% rise in output. MAR 25, 2021 Global steel production fell to 150.2 million metric tons during February, about 14.8 million metric tons or -8.8% less thanRead More

New US Jobless Claims Drop Below 700,000, 1st Time Since Pandemic: Gov’t

The drop of 97,000 from the prior's week's upwardly revised figure was much better than analysts forecast. Agence France-Presse MAR 25, 2021 New filings for regular unemployment benefits in the United States dropped to 684,000 last week, the government said Thursday, their first reading below 700,000 since the pandemic sparked mass layoffs. The drop ofRead More

Survey: 88% of Manufacturers Optimistic about 2021

The National Association of Manufacturers’ quarterly record of manufacturer optimism hit its highest point in two years. IW Staff MAR 09, 2021 Most U.S. manufacturers see clear skies ahead, according to a new survey released by the National Association of Manufacturers. A majority, 87.6% of 450 respondents, of small, medium and large businesses reported feelingRead More

Retail Will Grow Dramatically First Half of 2021

"The supply chain slowdown we usually see after the holiday season never really happened this winter, and imports are already starting to grow again," said Jonathan Gold, of National Retail Federation. MH&L Staff MAR 09, 2021 As increased vaccination and continued in-store safety measures enable additional shopping options, imports at the nation’s largest retail containerRead More

January Steel Production Up Worldwide

Global tonnage rose to 162.9 million metric tons for the first month of 2021, a 4.8% increase over the January 2020 total. FEB 28, 2021 Global steel production increased slightly in January to 162.9 million metric tons, just 1.27% more than the tonnage reported for December 2020, and 4.8% more than the January 2020 total.Read More

Manufacturing in February: Rapid Growth Checked by Supply Hurdles

According to the ISM, U.S. industry is still bedeviled by supply inconsistencies despite growing production and demand. Data from the Institute for Supply Management show that the manufacturing sector grew in February at a faster rate than it had in January. The ISM’s Purchasing Manager’s Index hit 60.8, 2.1 points higher than January’s 58.7. ARead More

January Manufacturing Sustains Growth, Supply Difficulties

The Industry for Supply Management’s manufacturing index fell to 58.7%. Ryan Secard FEB 02, 2021 The manufacturing sector continued growing for an eighth straight month in January as the Institute for Supply Management’s Purchasing Manager’s Index for sector growth fell 1.8 points to 58.7% compared to December. The overall economy also grew, sustaining a parallelRead More