No. 829: Labor Market, Trade Deficit, Construction Spending, M3 and Consumer Conditions
Real Construction Spending Remained Down 24% (-24%) from
Recovering Its Pre-Recession Peak
Weakest Real Construction Spending Growth since Series Trough in 2011
Monthly Unemployment Data Simply Are Not-Comparable,
Heavily Skewed by Inconsistent Seasonal Adjustments
August 2016 Unemployment Rates Held Even: U.3 at 4.9%, U.6 at 9.7%
and the ShadowStats-Alternate Rate at 23.0%
Actual Monthly Change in August Payrolls Likely Was a Contraction
Though Bloated by Seasonal-Factor Distortions and Add-Factors,
Annual Payroll Growth Effectively Held at a 30-Month Low
Second-Quarter Real Merchandise Trade Deficit Remained Worst Since 2007
Surging Soybean Exports Provided Short-Lived, Temporary Relief for the
July and Early-Trend Third-Quarter Trade Deficits
Annual M3 Growth Notched Higher to 4.2% in August 2016, from 4.1% in July,
With the Annual Decline in the Monetary Base Just Shy of a Record