How Gold Is Mined: Jul 18, 2013

The May Jobs Report Contains Warning Signs That The Economy Is Stalling - Business Insider Login Login Username Password Remember me

Forgot username or password?

Money Game Contributors Home Tech SAI Enterprise Science

Everything You Can Expect Apple To Announce On Monday

14 Big Data Startups You're Going To Be Hearing A Lot More About

A Rare, Giant Fish Was Caught On Video For The First Time Finance Clusterstock Your Money

Whistleblower Edward Snowden Describes The Time The CIA Got A Swiss Banker Drunk And Put Him Behind The Wheel

Duke Grad Student Secretly Lived In A Van To Escape Loan Debt [PHOTOS] Markets

China's Latest Economic Data Dump Stunk Politics Politics Defense Law & Order

NSA WHISTLEBLOWER REVEALED: 29-Year-Old Edward Snowden Says He Is The Leaker

29-Year Old NSA Whistleblower Makes Mindblowing Claims About What Kind Of Power He Had

No One Is Talking About The Insane Law That Lets Authorities Read Any Email Over 180 Days Old Strategy Strategy Careers Small Business

12 Technologies That Are Improving At Insane Speeds

Use Eastern Medicine To Trick Your Body Into Relaxing Instantly

12 Technologies That Are Improving At Insane Speeds Entertainment

The 20 Best TV Sitcoms Of All Time Advertising

What Advertisers Can Take Away From Facebook's #FBRape Scandal Retail

McDonald's Comes Even Closer To Offering A 24-Hour Breakfast Sports

French Open Final Interrupted By Protester With A Flare Life The Life Transportation

35 Mouthwatering Pictures Of Street Food From Around The World

I Was Awestruck By The Classic Cars On Display At An Exclusive Show In Italy [PICTURES] More Latest Video Lists The Hive Your News BI Intelligence Events About BI Events BI Intelligence Money Game Home Economy Markets Investing ETFs Contributors Documents Jobs Follow us on Facebook and get updates from Money Game Contributors posted directly to your news feed Enter your email address and zip code to set up customized email alerts. Email Zip From To Email Sent! You have successfully emailed the post. The May Jobs Report Contains Warning Signs That The Economy Is Stalling New Deal democrat, The Bonddad Blog | Jun. 8, 2013, 9:08 AM | 1,892 | 6 EmailMoreShare on Tumblr

Tweet!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");EmailShare on Tumblr

Red Light Bulb Alex Abian via Flickr

New Deal democrat

New Deal democrat , aka Hale Stewart, runs Bonddad Blog.

Recent PostsConsumers And Housing Are Still Saving The EconomyLast Week Was One Of The Best Weeks For Economic Data We've Seen In...Wealthy Democrats Are Saving The American EconomyNew Deal democratNew Deal democrat

Recent PostsConsumers And Housing Are Still Saving The EconomyLast Week Was One Of The Best Weeks For Economic Data We've Seen In...Wealthy Democrats Are Saving The American Economy

A thought for Sunday: I'm not surprised, I watch the 'Investigation Discovery' channel Weekly Indicators: moving forward in first gear edition Weekend Weimar, Beagle and Pit Bull May's employment report can best be described as a tepidly good report, that mainly took back losses we saw in several categories last month. You probably already know the headlines, +175,000 jobs added, and the unemployment rate ticked up .1 to 7.6%. Government subtracted -3000 from the 178,000 private jobs number. The broader U6 unemployment rate ticked down -.1 to 13.8% (putting us back at March's level).

As always for me, after the headline the next thing I want to do is look at the more leading numbers in the report which tell us about where the economy is likely to be a few months from now. This was generally good, but mainly in that April's bad numbers were reversed, putting us back a March levels:

temporary jobs - a leading indicator for jobs overall - increased by 25,600.manufacturing jobs declined -8,000. This is the third month in a row of manufacturing job losses, and is a red flagthe number of people unemployed for 5 weeks or less - a better leading indicator than initial jobless claims - rose 232,000. This places it back in the caution zone nearly 300,000 off its lows.the average manufacturing workweek rose +0.1 hour from 40.8 hours to 40.7 hours. This is one of the 10 components of the LEI and will affect that number positively.construction jobs gained 7000.

Now here are some of the other important coincident indicators filling out our view of where we are now:

the average workweek was unchanged at 34.5 hoursovertime hours were also unchangedThe broad U-6 unemployment rate, that includes discouraged workers, fell back from its April level of 13.9% to its March level of 13.8%.the index of aggregate hours worked in the economy, which last month had been reported to have fallen -0.4 from 98.2 to 97.8, was revised to a -0.1 fall, which was reversed with a +0.1 rise back to its March level of 98.3

Other news included:

the alternate jobs number contained in the more volatile household survey showed a gain of 319,000 jobs, which with April's +293,000, totals over +600,000 in two months.420,000 people entered the labor force, muting the impact of the slight increase in the unemployment rate.Combined revisions to the March and April reports totalled -12,000.average hourly earnings increased $.01 to $23.89. The YoY change rose from +1.9% to +2.0%. Since I expect May CPI to rise at least 0.2%, this will be a real albeit slight m/m decline.

This month's report can be filed under the category of "positive, but not nearly good enough," which basically describes the entire last 3 years. Most of the positive indicators outside of the headline number actually just take back last month's declines. The only - slight - silver lining in the ongoing losses in manufacturing jobs is that we don't rely on those any more for a functioning economy.

There's nothing to get excited about in this report, and while it is mainly positive, there are some warning signs that the metrics are stalling.

Recommended For You

How To Let Employers Know You're Interested In A Job On LinkedIn Without Applying

Strategically put yourself on potential employer's radar.

Please follow Money Game on Twitter and Facebook. Tags: Economy | Get Alerts for these topics »

Advertisement: Short URL Share: Twitter Facebook Digg StumbleUpon Reddit LinkedIn Google+ Email More about embedding posts » Embed More about Alerts » Alerts Newsletter To embed this post, copy the code below and paste into your website or blog.600px wide (preview)400px wide (preview) 300px wide (preview) Join the discussion with Business InsiderLogin With FacebookLogin With Twitter Login With Google Name (Required)Email Address (Required but never displayed)Comments Submit the comment for Insider Status The Water Cooler Insiders 0 All Comments 6 Apply To Be An "Insider" » Loading