Skip to content

News   /   Uncategorized

[Platinum Insights] (3.2.23) Major Numbers you MUST See.

[Platinum Insights] (3.2.23) Major Numbers you MUST See.
August 21, 2023

#1. 

The number of Americans filing for unemployment benefits fell by 2,000 from the previous week to 190,000 on the week ending February 25th, below market expectations of 195,000. The latest value remained close to the nine-month low of 183,000 hit at the end of January, giving further evidence that the US labor market remains tight in part to reduced labor force participation. This could force employers to raise wages to attract and keep staff, adding to further inflationary pressure in the world’s largest economy. The four-week moving average, which removes week-to-week volatility, rose by 1,750 to 193,000. On a non-seasonally adjusted basis, claims fell by 9,297 to 201,710, with significant declines in Kentucky (-6,156) and California (-2,353). source: U.S. Department of Labor

#2.

Nonfarm business sector labor productivity growth in the United States was revised lower to 1.7 percent in the fourth quarter of 2022, down from a preliminary estimate of 3.0 percent and compared with the previous period’s 1.2 percent increase. Output grew 3.1 percent (vs a preliminary 3.5 percent) and hours worked were up 1.4 percent (vs a preliminary 0.5 percent). On a yearly basis, productivity decreased 1.8 percent in the final three months of 2022, reflecting a 0.7 percent expansion in output and a 2.6 percent advance in hours worked. 

Considering 2022 full year, annual average productivity decreased 1.7 percent, the largest decline since 1974, when productivity also decreased 1.7 percent.  Unit labor costs in the US nonfarm business sector increased an annualized 3.2 percent in the fourth quarter of 2022, faster than initial estimates of a 1 percent gain but slowing from an upwardly revised 6.9 percent rise in the previous period. It compared with market forecasts of a 1.6 percent rise. 

It is the smallest increase in labor costs since the first quarter of 2021, reflecting a 4.9 percent increase in hourly compensation and a 1.7 percent increase in productivity. Year-on-year, labor costs were up 6.3 percent, following a 6.4 percent rise. In 2022, unit labor costs advanced by 6.5 percent, after a 2.4 percent increase in 2021.

#3.


The yield on the US 10-year Treasury note, seen as a proxy for global borrowing costs, topped 4%, approaching an over 14-year high of 4.3% reached in October, as a batch of hot economic data strengthened expectations that the Federal Reserve will raise interest rates to a higher level and keep them restrictive for longer. Data from the US Department of Labor showed that the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to a still-tight labor market and opening the door for further interest rate increases. A robust labor market and signs of persistent inflation forced investors to reverse their views on the likely future path of interest rate rises, now pricing at least three more 25 basis point rate hikes this year and betting that interest rates will peak around 5.5% by June.

#4.

unemployment benefits fell by 2,000 from the previous week to 190,000 on the week ending February 25th, below market expectations of 195,000. The latest value remained close to the nine-month low of 183,000 hit at the end of January, giving further evidence that the US labor market remains tight in part to reduced labor force participation. This could force employers to raise wages to attract and keep staff, adding to further inflationary pressure in the world’s largest economy. The four-week moving average, which removes week-to-week volatility, rose by 1,750 to 193,000. On a non-seasonally adjusted basis, claims fell by 9,297 to 201,710, with significant declines in Kentucky (-6,156) and California (-2,353). source: U.S. Department of Labor

#5.
Nonfarm business sector labor productivity growth in the United States was revised lower to 1.7 percent in the fourth quarter of 2022, down from a preliminary estimate of 3.0 percent and compared with the previous period’s 1.2 percent increase. Output grew 3.1 percent (vs a preliminary 3.5 percent) and hours worked were up 1.4 percent (vs a preliminary 0.5 percent). On a yearly basis, productivity decreased 1.8 percent in the final three months of 2022, reflecting a 0.7 percent expansion in output and a 2.6 percent advance in hours worked. Considering 2022 full year, annual average productivity decreased 1.7 percent, the largest decline since 1974, when productivity also decreased 1.7 percent.  Unit labor costs in the US nonfarm business sector increased an annualized 3.2 percent in the fourth quarter of 2022, faster than initial estimates of a 1 percent gain but slowing from an upwardly revised 6.9 percent rise in the previous period. It compared with market forecasts of a 1.6 percent rise. It is the smallest increase in labor costs since the first quarter of 2021, reflecting a 4.9 percent increase in hourly compensation and a 1.7 percent increase in productivity. Year-on-year, labor costs were up 6.3 percent, following a 6.4 percent rise. In 2022, unit labor costs advanced by 6.5 percent, after a 2.4 percent increase in 2021.

Share this article:

More in Uncategorized:

The Rise of Technical Analysis in Modern Stock Trading  

In today’s fast-paced and technology-driven stock market, technical analysis has emerged as the predominant approach used by traders to make...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
April 20, 2024

The Future of Computing Power: Groq Founder Jonathan Ross on "Compute Being the New Oil"

In the rapidly evolving world of artificial intelligence, one name stands out as a pioneer and visionary: Jonathan Ross, founder...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
April 17, 2024

Is MicroStrategy's Massive Bitcoin Bet Genius or Gambling? 

In the high-stakes world of investing, there’s always been a fine line between boldness and recklessness. MicroStrategy’s CEO Michael Saylor...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
April 16, 2024

Best of US Investors brings Wall Street Technology to Main Street

For decades, massive Wall Street firms like Goldman Sachs have enjoyed a decisive advantage over individual investors. With thousands of...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
April 16, 2024

Best of US Investors

Will the Fed Raise or Lower Rates?

CPI Report Expected to Show Little Progress on Inflation

April 10, 2024 Inflation is real and hitting American households hard. From the grocery store to the gas pump to...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
April 10, 2024

Bitcoin Whale Emerges!

A Bitcoin whale moved 2,000 BTC that had been dormant since 2010, but this action had no noticeable effect on Bitcoin's price. Typically, such large movements can cause market apprehension, yet this time it was completely ignored, suggesting Bitcoin's price is currently independent of such news.

A Bitcoin whale moved 2,000 BTC that had been dormant since 2010, but this action had no noticeable effect on...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
March 28, 2024

Register for the Best of US Investors Newsletter

Get daily financial news delivered to your inbox. Join today.

©2024 Best of US Investors. All rights reserved.

Site by KMA

Disclaimer

This Best of US Investors website is not and should not be considered investment advice. This Best of US Investors website is for informational purposes only. Nothing on this Best of US Investors website constitutes a recommendation to buy, sell or hold any security at any time. Always consult with a financial professional that is familiar with your specific situation before making any investment or trade.

Use of this Best of US Investors website is at your own risk. Best of US Investors makes no warranties about the accuracy, completeness or reliability of any content on this Best of US Investors website.

All the information on this Best of US Investors website is provided “AS IS”. Do not rely on any statements made on this Best of US Investors website.

In no event shall Best of US Investors be responsible or liable for any damage that occurs while using or reading any content on this Best of US Investors website.

Best of US Investors may have a position (long, short or neutral) in any security mentioned on this Best of US Investors website and therefore may realize significant gains in the event that the price of the security mentioned on this Best of US Investors website declines or appreciates.

Best of US Investors may buy and/or sell any security mentioned on this Twitter account at any time and for any reason. I may trade contrary or different to the information provided on this Best of US Investors website. You should assume that any email or post on this Best of US Investors website may cause the price of the security mentioned to appreciate or decline in a dramatic way.

Best of US Investors may continue to transact in any security mentioned on this Best of US Investors website an indefinite period of time after any email or post and such positions may be long, short or neutral at any time hereafter regardless of the initial view or positions stated on this Best of US Investors website.

In no event shall Best of US Investors be liable for any claims, losses, costs or damages of any kind including direct, indirect, punitive, exemplary, incidental, special or consequential damages, arising out of or in any way connected with any information presented on this Best of US Investors website. This limitation of liability applies regardless of any negligence or gross negligence of Best of US Investors or any company affiliated with Best of US Investors. You accept all risks in relying on the information presented on this Best of US Investors website.

If any statement in this legal disclaimer is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect.

For more information, contact [email protected] .