GDP

http://mam.econoday.com/byshoweventfull.asp?fid=461146&cust=mam&year=2014&lid=0&prev=/byweek.asp#top

2014 Economic Calendar
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U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar
GDP Released On 9/26/2014 8:30:00 AM For Q2f:2014 Prior Consensus Consensus Range Actual Real GDP - Q/Q change - SAAR 4.2 % 4.6 % 4.3 % to 5.0 % 4.6 % GDP price index - Q/Q change - SAAR 2.1 % 2.1 % 2.1 % to 2.2 % 2.1 % Highlights The final revision to second quarter GDP growth showed an upward revision to 4.6 percent from the prior estimate of 4.2 percent and compared to the first quarter decline of 2.1 percent. The revision matched expectations. Upward revisions primarily came from nonresidential fixed investment, residential investment, and exports. Looking at growth rates (instead of the direction and degree of component revisions), strength for the second quarter was broad based in inventory investment, net exports, nonresidential fixed investment and residential investment. Personal consumption also was healthy. Chain-weighted prices advanced 2.1 percent annualized, equaling the prior estimate and forecasts and compared to the first quarter number of 1.3 percent. The general picture of the second quarter has not changed. Second quarter strength to a notable degree was a rebound from the weather-related decline in the first quarter. This was especially true for inventories and construction components. Nonetheless, the quarter was moderately favorable. However, the rebound effect will show up little if at all in the third quarter and a more moderate number should be expected. Recent History Of This Indicator GDP growth for the second quarter was higher than expected. The second estimate for second quarter GDP growth came in at 4.2 percent annualized versus a 4.0 percent forecast and coming off a 2.1 percent weather related drop in the first quarter. With this second estimate for the second quarter, the general picture of economic growth remained the same; the increase in nonresidential fixed investment was larger than previously estimated, while the increase in private inventory investment was smaller than previously estimated. Real final sales of domestic product-GDP less change in private inventories-increased 2.8 percent in the second quarter, in contrast to a decrease of 1.0 percent in the first. Real final sales to domestic purchasers gained 3.1 percent versus 0.7 in the first quarter. Chain-weighted prices gained 2.1 percent annualized, compared to the consensus for 2.0 percent and the first quarter number of 1.3 percent. Definition Gross Domestic Product (GDP) is the broadest measure of aggregate economic activity and encompasses every sector of the economy.  Why Investors Care   Real GDP growth is always quoted at a quarterly annual rate. It measures how much the economy has grown over a three-month period. Quarterly growth rates are often volatile; consequently, economists also like to look at the year-over-year growth in GDP. The yearly changes tend to be more stable. Data Source: Haver Analytics   It is common to compare quarterly changes at annual rates in the GDP deflator. These can be volatile, just like the quarterly swings in real GDP growth; as a result, the trend in inflation is better determined by year- over- year changes. Data Source: Haver Analytics   Please note: Your browser must display iFrames to view the Interactive charts.   2014 Release Schedule Released On: 1/30 2/28 3/27 4/30 5/29 6/25 7/30 8/28 9/26 10/30 11/25 12/23 Release For: Q4a:2013 Q4p:2013 Q4f:2013 Q1a:2014 Q1p:2014 Q1f:2014 Q2a:2014 Q2p:2014 Q2f:2014 Q3a:2014 Q3p:2014 Q3f:2014   A: Advance P: Preliminary F: Final Share this page 2 Legal Notices | ©Copyright 1998-2014 Econoday, Inc.  powered by

Billionaire education

http://www.ritholtz.com/blog/2014/09/billionaire-education/

What College has the most Billionaire Alumni?

by Barry Ritholtz - September 24th, 2014, 9:15am

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Funny, this came up at dinner just last night:

Source: Wealth-X and UBS Billionaire Census 2014



Category: Finance, Research, Wages & Income

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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

Gender and employment

http://www.ritholtz.com/blog/2014/09/whiteout-in-finance/

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More after the jump

GDP growth and incomes

http://www.ritholtz.com/blog/2014/09/10-wednesday-pm-reads-33/

You Can’t Feed a Family With GDP

Source: The Upshot

Presidential job creation

http://www.ritholtz.com/blog/2014/09/presidential-job-creation/

Presidential Job Creation

by Barry Ritholtz - September 14th, 2014, 12:00pm

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Source: The Fix

Economic impact of September 11, 2001 terrorist attack

http://en.wikipedia.org/wiki/Economic_effects_arising_from_the_September_11_attacks

Recessions:

http://www.calculatedriskblog.com/2012/10/real-gdp-increased-20-annual-rate-in-q3.html
http://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States

Unemployment in August 2014

http://bloomberg.econoday.com/byshoweventfull.asp?fid=461122&cust=bloomberg-us&year=2014&lid=0&prev=/byweek.asp#top

2014 Economic Calendar
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Resource Center »  Event Release Dates   |   Event Definitions   |   Today's Calendar
Employment Situation Released On 9/5/2014 8:30:00 AM For Aug, 2014 Prior Prior Revised Consensus Consensus Range Actual Nonfarm Payrolls - M/M change 209,000  212,000  230,000  195,000  to 279,000  142,000  Unemployment Rate - Level 6.2 % 6.1 % 6.0 % to 6.2 % 6.1 % Average Hourly Earnings - M/M change 0.0 % 0.2 % 0.1 % to 0.3 % 0.2 % Av Workweek - All Employees 34.5 hrs 34.5 hrs 34.5 hrs to 34.6 hrs 34.5 hrs Private Payrolls - M/M change 198,000  213,000  220,000  187,000  to 270,000  134,000  Highlights The employment situation for August was notably disappointing. But some commentators note that August is a very revisable number. Payroll jobs rose only 142,000, after a 212,000 increase in July and 267,000 boost in June. Net revisions for June and July were down 28,000. Market expectations for August were for a 230,000 gain. The unemployment rate eased back to 6.1 percent from 6.2 percent in July. Expectations were for 6.1 percent. Going back to the payroll report, private payrolls rose 134,000 in August after a 213,000 gain in July. Professional and business services added 47,000 jobs in August. Employment in health care increased by 34,000 in August. Within leisure and hospitality, employment in food services and drinking places continued to trend up in August (+22,000). Construction employment continued to trend up in August (+20,000). Manufacturing employment was unchanged in August, following an increase of 28,000 in July. Motor vehicles and parts lost 5,000 jobs in August, after adding 13,000 jobs in July. Auto manufacturers laid off fewer workers than usual for factory retooling in July, and fewer workers than usual were recalled in August. Average hourly earnings rose 0.2 percent, matching expectations and improving over July's 0.1 percent. Average weekly hours were unchanged at 34.5 hours. Overall, the latest numbers bolster the arguments for Fed doves to keep policy loose. On the news, equity futures rose and were less negative. Market Consensus before announcement Nonfarm payroll employment was on the soft side in July but still moderately positive. Total nonfarm payroll jobs rose 209,000 in July after a 298,000 gain in June and a 229,000 rise in May. The net revision for the prior two months was up 15,000. The unemployment rate nudged up to 6.2 percent from 6.1 percent in June. Expectations were for 6.1 percent. The expanded underemployment rate ("U-6") rose to 12.2 percent from 12.1 percent in June. Turning back to the payroll report, private jobs advanced 198,000 after a 270,000 increase the month before. Analysts forecast 233,000. It was the goods-producing sector that was relatively healthy, gaining 58,000 in July, following a 38,000 rise in June. Both manufacturing and construction were healthy. Average weekly hours were unchanged at 34.5 hours. Growth in average hourly earnings was flat at 0.0 percent after a 0.2 percent rise in June. Definition The employment situation is a set of labor market indicators based on two separate surveys in this one report. The unemployment rate equals the number of unemployed persons divided by the total number of persons in the labor force, which comes from a survey of 60,000 households (this is called the household survey). Workers are only counted once, no matter how many jobs they have, or whether they are only working part-time. In order to be counted as unemployed, one must be actively looking for work. Other commonly known figures from the Household Survey include the labor supply and discouraged workers.  Why Investors Care   During the mature phase of an economic expansion, monthly payrolls gains of 150,000 or so are considered relatively healthy. In the early stages of recovery though, gains are expected to surpass 250,000 per month. Data Source: Haver Analytics   The civilian unemployment rate is a lagging indicator of economic activity. During a recession, many people leave the labor force entirely, so the jobless rate may not increase as much as expected. This means that the jobless rate may continue to increase in the early stages of recovery because more people are returning to the labor force as they believe they will be able to find work. The civilian unemployment rate tends towards greater stability than payroll employment on a monthly basis. It reveals the degree to which labor resources are utilized in the economy. Data Source: Haver Analytics   Please note: Your browser must display iFrames to view the Interactive charts.   2014 Release Schedule Released On: 1/10 2/7 3/7 4/4 5/2 6/6 7/3 8/1 9/5 10/3 11/7 12/5 Release For: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov   Legal Notices | ©Copyright 1998-2014 Econoday, Inc.  powered by

Unemployment for July 2014

http://www.bloomberg.com/markets/economic-calendar/

http://bloomberg.econoday.com/byshoweventfull.asp?fid=461121&cust=bloomberg-us&year=2014&lid=0&prev=/byweek.asp#top

Employment Situation

Released On 8/1/2014 8:30:00 AM For Jul, 2014 Prior Prior Revised Consensus Consensus Range Actual Nonfarm Payrolls - M/M change 288,000  298,000  233,000  200,000  to 280,000  209,000  Unemployment Rate - Level 6.1 % 6.1 % 6.0 % to 6.1 % 6.2 % Average Hourly Earnings - M/M change 0.2 % 0.2 % 0.2 % to 0.3 % 0.0 % Av Workweek - All Employees 34.5 hrs 34.5 hrs 34.5 hrs to 34.6 hrs 34.5 hrs Private Payrolls - M/M change 262,000  270.000  233,000  200,000  to 275,000  198,000

Highlights Payroll growth was on the soft side in July but still moderately positive. Markets see the latest numbers as not moving up the Fed's schedule for interest rate increases. Total nonfarm payroll jobs rose 209,000 in July after a 298,000 gain in June and a 229,000 rise in May. The net revision for the prior two months was up 15,000. Expectations for July were for 233,000. The unemployment rate nudged up to 6.2 percent from 6.1 percent in June. Expectations were for 6.1 percent. Turning back to the payroll report, private jobs advanced 198,000 after a 270,000 increase the month before. Analysts forecast 233,000. It was the goods-producing sector that was relatively healthy, gaining 58,000 in July, following a 38,000 rise in June. Manufacturing posted a 28,000 increase, following a 23,000 gain the month before. Construction jobs advanced 22,000 after a 10,000 rise in June. Mining increased 8,000 in July after a 4,000 rise in June. Private service providing jobs decelerated to a gain of 140,000 after a boost of 232,000 in June. Slowing was seen in retail trade, education & health services, and professional & business services. Government jobs rose 11,000 after a 28,000 boost in June. Average weekly hours were unchanged at 34.5 hours, matching expectations. Growth in average hourly earnings was flat at 0.0 percent after a 0.2 percent rise in June. The median market forecast was for 0.2 percent. Overall, today's report is on the soft side and will not tip the Fed's hand to accelerate rate increases. On the news, equity futures rose somewhat.

Market Consensus before announcement Nonfarm payroll employment increased 288,000 in June after a 224,000 gain in May and a 304,000 rise in April. The net revision for the prior two months was up 29,000. April's gain was the first plus 300,000 figure since January 2012. The unemployment rate surprisingly fell to 6.1 percent from 6.3 percent in May. Expectations were for 6.3 percent. The U6 underemployment rate edged down to 12.1 percent from 12.2 percent in May. Turning back to the payroll report, private jobs gained 262,000 after a 224,000 boost the month before. Government jobs jumped 26,000 after being flat in May. Average weekly hours were unchanged at 34.5 hours. Growth in average hourly earnings held steady at 0.2 percent, also matching the consensus.

Definition The employment situation is a set of labor market indicators based on two separate surveys in this one report. The unemployment rate equals the number of unemployed persons divided by the total number of persons in the labor force, which comes from a survey of 60,000 households (this is called the household survey). Workers are only counted once, no matter how many jobs they have, or whether they are only working part-time. In order to be counted as unemployed, one must be actively looking for work. Other commonly known figures from the Household Survey include the labor supply and discouraged workers.  Why Investors Care

During the mature phase of an economic expansion, monthly payrolls gains of 150,000 or so are considered relatively healthy. In the early stages of recovery though, gains are expected to surpass 250,000 per month. Data Source: Haver Analytics

The civilian unemployment rate is a lagging indicator of economic activity. During a recession, many people leave the labor force entirely, so the jobless rate may not increase as much as expected. This means that the jobless rate may continue to increase in the early stages of recovery because more people are returning to the labor force as they believe they will be able to find work. The civilian unemployment rate tends towards greater stability than payroll employment on a monthly basis. It reveals the degree to which labor resources are utilized in the economy. Data Source: Haver Analytics