1
AAR: April Rail Carloads down 0.9% YoY, Intermodal Down 3.9% YoY
From the Association of American Railroads (AAR) Rail Time Indicators. *Graphs
and excerpts reprinted with permission*.
Volumes for U.S. railroads in April 2019 were far from ideal, but they were
much better than in March. *Total carloads in April were down 0.9%* (9,130
carloads), compared with a decline of 8.9% (93,616 carloads) in March. …
The improvement in April was due partly to a return to near-normal
operations in the Midwest as numerous rail lines that had been flooded were
returned to service — coal and grain were especially impacted. ... *Intermodal
volume fell 3.9%*, or ... more »
Buying less.
2
Comments on April Employment Report
The headline jobs number at 263 thousand for April was above consensus
expectations of 180 thousand, and the previous two months were revised up
16 thousand, combined. The unemployment rate declined to 3.6%. Overall this
was a strong report.
Earlier: April Employment Report: 263,000 Jobs Added, 3.6% Unemployment Rate
In April, the year-over-year employment change was 2.620 million jobs. That
is solid year-over-year growth.
*Average Hourly Earnings*
Wage growth was close to expectations. From the BLS:
"*In April, average hourly earnings for all employees on private nonfarm
payroll... more »
It looks like a noisy pause.
3
Trump Says He Discussed the ‘Russian Hoax’ in a Phone Call With Putin
The conversation took place shortly after the release of the special
counsel’s report documenting Russian efforts to tilt the 2016 election in
President Trump’s direction.
Both of them lie often.
4
Jay Inslee, Running as a Climate Candidate, Wants Coal Gone in 10 Years
The Washington governor’s new climate plan sets a series of targets for
clean energy across three sectors: electricity, vehicles and buildings.
Good luck to him.
5
Ohio Congressional Map Is Illegal Gerrymander, Federal Court Rules
TRIP GABRIEL and MICH
Yes.
6
Fed Leaders Try to Talk Up Inflation Without Stoking Rate Cut Expectations
Despite low inflation and White House cajoling, Fed officials continued to
suggest a path of inaction on interest rates.
Inaction is not the wrong thing.
7
Why Uncle Joe Biden Is Leading Polls
I’m finding the Biden run amusing, after a fashion, because of Joe’s
absolute refusal to pander. He was right on NAFTA, doesn’t regret three
strike laws, thinks the bankruptcy bill was great, is taking money from
lobbyists (and started his campaign at a lobbyist run party), and so on.
And he’s way ahead in the […]
Biden is not the candidate.
He is a straw man.
8
Democrats Try to Revive Talks Over Full Mueller Report as Contempt Vote Looms
House Democrats, seeking a deal with Attorney General William P. Barr,
offered a compromise on the full Mueller report that would keep some parts
secret.
The full report will be read.
Burr is not trusted.
9
Congress Is Ready to Attack a Common Enemy: Robocallers
Swamped by angry constituents demanding action and bedeviled themselves by
obnoxious and fraudulent robocalls, Congress is springing to action.
First catch the operation.
10
Congress Is Ready to Attack a Common Enemy: Robocallers
Frauds must be caught.
It would ruin business models.
11
ISM Non-Manufacturing Index decreased to 55.5% in April
The March ISM Non-manufacturing index was at 55.5%, down from 56.1% in
March. The employment index decreased to 53.7%, from 55.2%. Note: Above 50
indicates expansion, below 50 contraction.
From the Institute for Supply Management: April 2019 Non-Manufacturing ISM
Report On Business®
Economic activity in the non-manufacturing sector grew in April for the
111th consecutive month, say the nation’s purchasing and supply executives
in the latest Non-Manufacturing ISM® Report On Business®.
The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM,
Chair of the Institute... more »
Retail.
12
April Employment Report: 263,000 Jobs Added, 3.6% Unemployment Rate
From the BLS:
*Total nonfarm payroll employment increased by 263,000 in April, and the
unemployment rate declined to 3.6 percent*, the U.S. Bureau of Labor
Statistics reported today. Notable job gains occurred in professional and
business services, construction, health care, and social assistance.
...
The change in total nonfarm payroll employment for February was revised up
from +33,000 to +56,000, and the change for March was revised down from
+196,000 to +189,000. *With these revisions, employment gains in February
and March combined were 16,000 more than previously reported.*
.... more »
Not bigger.
13
Syrup Is as Canadian as a Maple Leaf. That Could Change With the Climate.
A growing body of research suggests that warming temperatures linked to
climate change may significantly shrink the range where it’s possible to
make maple syrup.
Acer Saccrum
https://en.wikipedia.org/wiki/Acer_saccharum
It may not happen soon.
14
Amy Klobuchar Proposes $100 Billion for Addiction and Mental Health
Ms. Klobuchar said she was making addiction, including alcoholism and the
opioid crisis, an early focus of her campaign in part because of her
experience with her father’s alcoholism.
Do the science.
Do the economics.
15
Job Growth Underscores Economy’s Vigor; Unemployment at Half-Century Low
With 263,000 added to payrolls in April and the jobless rate at 3.6
percent, the recovery shows no sign of losing steam.
The measure is too simple.
People also leave the workforce.
16
On Politics: Pelosi Accuses Barr of Breaking the Law
NYT > Politics - 21 hours ago
After the attorney general failed to provide an unredacted version of the
Mueller report, the Judiciary Committee threatened to hold him in contempt.
It would be a long fight to no conclusion.
The House will read the whole report.
17
U.S.-China Trade Deal Unlikely to Address Cybertheft or Subsidies
China has pushed back on addressing key issues like cybertheft and
subsidies in the context of the trade talks, officials from the U.S.
Chamber of Commerce said.
Yes.
18
The Coming Subpoena Fights Between Trump and Congress, Explained
Here is how President Trump’s vow to thwart House Democrats’ attempts to
carry out oversight investigations could play out.
Possibly.
19
Ex-White House Official Says No One Pressured Him to Overturn Security Clearance Recommendations
Carl Kline’s appearance before Congress was the latest episode in a
continuing debate over the vetting and approval of the people working for
President Trump.
No pressure was required.
20
Friday: Employment Report
My April Employment Preview
Goldman: April Payrolls Preview
Friday:
• At 8:30 AM: *Employment Report* for April. The consensus is for 180,000
jobs added, and for the unemployment rate to be unchanged at 3.8%.
• At 10:00 AM: the *ISM non-Manufacturing Index* for April. The consensus
is for a reading of 57.2, up from 56.1.
CR wants up.
||
No comments:
Post a Comment