I have been saying that the economy is strong and the numbers keep proving it.
From Bank of America
March 12, 2014
Last Week in Review
For the first time in several months, the number of job creations came in above expectations. Read on for details.
Table Source: Vantage Production, LLC
Despite the harsh winter weather, 175,000 jobs were created in February. This was above the 163,000 expected, and the largest gain in three months. In addition, there were revisions to the numbers for December and January, adding 25,000 more job creations than were previously reported.
The unemployment rate ticked up to 6.7 percent from 6.6 percent, while the labor force participation rate (LFPR) remained at 63.0 percent. The LFPR measures the proportion of working-age Americans who have a job or are looking for one, and it should be moving higher in a recovery. Overall, this report was a positive sign for the labor market, but more and consistent improvement is still needed.
In other news to note, research firm CoreLogic reported that home prices, including distressed sales, rose by 12.02 percent in January 2014 compared to January 2013 and marks the twenty-third consecutive month of year-over-year price gains. Inflation remains a non-issue, as evidenced by the Personal Consumption Expenditures report, which was in line with expectations.
Table Source: Vantage Production, LL
- Sunil Sethi
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