Monday Market Rundown
Get the latest intel on Washington's fiscal woes.Close
Here’s our Monday rundown of the economic news released last week:
- Employment & Job Growth. On Friday the Bureau of Labor Statistics announced the economy created 114,000 jobs in September as the nation’s unemployment rate fell from 8.1 percent in August to 7.8 percent in September. Jobs numbers for July and August were revised to show an additional 86,000 jobs created in those two months.
- Unemployment Claims. The number of Americans filing for unemployment benefits for the first time fell by 4,000 during the week ending Sept. 29. The number of first-time claims for that week stood at 367,000. The four-week moving average held steady at 375,000.
- Factory Orders. The U.S. Commerce Department announced factory orders were down 5.2 percent in August. Orders for non-durable goods increased 2.2 percent while orders for durable goods fell 13.2 percent.
- Manufacturing. A key manufacturing survey showed expansion in the sector. The Institute for Supply Management’s manufacturing index increased from 49.6 in August to 51.5 in September. Readings above 50 indicate expansion.
- Auto Sales. According to carmakers, auto sales in the U.S. were up 13 percent between September 2011 and September 2012. Carmakers are on track to sell 14.4 million cars this year.
- Construction Spending. Construction spending fell 0.6 percent in August 2012, the most significant drop in more than a year.