Last updateFri, 24 Jan 2020 5pm

Unemployment Rate Jumps to Five-Year High

The jobless rate was 6.1 percent last month, up from 5.7 percent in July, the Labor Department said today. It is the highest unemployment rate in five years, and compares to joblessness of 4.1 percent one year ago.

Source: The Washington Post

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U.S. Builds Case Against China's Export Curbs

U.S. trade officials are close to filing a case against China at the World Trade Organization, challenging export restrictions on raw materials used in steelmaking and other industries.

The U.S. has been working on the case intensely for the past few months, and could move ahead with a request for consultations - the first step in the WTO dispute settlement process - within weeks, according to people close to the discussions.

Source: Financial Times

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Factory Orders, Capital Spending Rise

Factory orders climbed more than expected during July, and a barometer of capital spending by businesses surged.

Orders for manufactured goods increased 1.3%, following a revised 2.1% increase in June, the Commerce Department said Wednesday.

Source: The Wall Street Journal

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Manufacturing Slows in August

Economic activity in the manufacturing sector declined slightly in August, but the dynamics of the sector remain relatively unchanged, according to the Institute for Supply Management’s monthly Purchasing Manager’s Index.

August PMI registered 49.9 percent, compared to July’s reading of 50 percent. A reading above 50 indicates the sector is growing; a reading below 50 indicates contraction.

Source: Industrial Distribution

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Choice of Gov. Palin Is A Strategically Smart Surprise Says NAM Executive VP

Presumptive Republican Presidential nominee Sen. John McCain’s (R-AZ) selection of Alaska Governor Sarah Palin to be his running mate “is a game changer in the presidential race," said Jay Timmons, National Association of Manufacturers executive vice president.

 "In 2004, I sat down with her in a local restaurant near Wasilla, Alaska, to discuss her interest in running for the U.S. Senate against fellow Republican and incumbent Lisa Murkowski,” said Timmons, former executive director of the National Republican Senatorial Committee.

Source: NAM

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