All Paper Economy

In January commercial paper generally wen flat while still contracting at a rate of 4.12 percent on a year-over-year basis to $972.90 billion, a level that is still substantially lower than even the worst periods of the last two recessions.

Total industrial production increased 0.3 percent from December and rose 3.35 percent above the level seen in January 2011.

Single family housing permitsincreased 0.9 percent from last month to 445,000 single family units, but single family housing starts declined 1.0 percent to 508,000 units.

Initial unemployment claims declined by 13,000 and continued claims by 100,000 to well below the closely watched 400,000 level. 

The average rate for a 30 year fixed rate mortgage increased 1 basis point to 3.98 percent since last week, but the downward trend has yet to find its bottom.

Retail sales in January increased 0.4 percent from December and 4.8 percent from last year. The data shows a rough correlation between home value appreciation and retail spending. 

The price of residential properties in Hong Kong declined 3.8 percent since November, according to a report by the University of Hong Kong. 

Early reports indicate that consumer expectations will drop in February, indicating that consumers are tightening even further on spending.

Initial unemployment claims declined 15,000 to 358,000 claims from last week’s revised 373,000 claims while  continued claims increased by 64,000.

the average rate for a 30 year fixed rate mortgage dropped to 3.33 percent since last week, while the purchase application volume increased 0.1 percent and the refinance application jumped 9.4 percent over the same period.

Private job “openings” increased 8.79 percent since November, climbing 20.36 percent above the level seen in December 2010.

 Household participation in the federal food stamp program increased 5.82 percent on a year-over-year basis, while household participation increased 7.46 percent.

Net nonfarm payrolls added 257,000 jobs in January and private sector jobs are 2 percent above the level seen a year ago. 

Conditions for the long term unemployed were mixed in January. Comparatively, they're still epically distressed. 

Today's employment situation report from the Bureau of Labor Statistics shows total unemployment in January declined to 8.3 percent. 

 “Initial” unemployment declined 12,000 to 367,000 claims from last week’s revised 379,000 claims, while  “continued” claims declined by 130,000.

The situation for private employment in the U.S. improved in January as private employers added 170,000 jobs in the month bringing the total employment level 1.77 percent above the level seen in January 2011.

With slowing summer/fall transactions has come a notable decline of prices, with the national index declining 1.8 percent since October and falling 7.11 percent below the level seen in November 2010.

Seasonally adjusted “initial” unemployment increased 21,000 to 377,000 claims from last week, while seasonally adjusted “continued” claims increased by 88,000.

Pending home sales dropped 3.5 percent since November, but increased 5.5 percent above December 2010 levels.