by Bill McBride on 10/04/2015 08:17:00 PM
Sunday, October 04, 2015
Reading articles this weekend on the payroll report, I'm reminded of a sentence I wrote back in March: Why the Prime Labor Force Participation Rate has Declined
"Complaining about the decline in the overall labor force participation rate is the last refuge of scoundrels."Still true.
• Schedule for Week of October 4, 2015
• Early: Reis Q3 2015 Mall Survey of rents and vacancy rates.
• At 10:00 AM, the Fed will release the monthly Labor Market Conditions Index (LMCI).
• Also at 10:00 AM ET, the ISM non-Manufacturing Index for September. The consensus is for index to decrease to 57.7 from 59.0 in August.
From CNBC: Pre-Market Data and Bloomberg futures: currently S&P futures are down 2 and DOW futures are down 14 (fair value).
Oil prices were down slightly over the last week with WTI futures at $45.29 per barrel and Brent at $47.85 per barrel. A year ago, WTI was at $90, and Brent was at $91 - so prices are down about 50% year-over-year (It was a year ago that prices started falling sharply).
Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.29 per gallon (down about $1.00 per gallon from a year ago).
Posted by Bill McBride on 10/04/2015 08:17:00 PM