ASA Staffing Index, NRA Restaurant Index Flat
Compared to the same week last year, the latest ASA Staffing Index has improved by 25% for Week 34 (see bottom chart above). This marks the 18th week in a row with percentage gains above 20% compared to the same month in 2009, the 27th straight week of double-digit percent increases vs. 2009, and the 33rd consecutive week for the ASA Index being above the same level in the previous year (every week this year). The improvements this year follow 80 consecutive weeks of percentage declines in the weekly index vs. the previous year that started in May 2008 and continued through the end of 2009.
In another report released yesterday, the National Restaurant Association's Restaurant Performance Index was flat in July (99.4) compared to June (99.5), but above the index levels in July of 2008 and July 2009.
4 Comments:
that comment on the restaurant index is a bit misleading. this was the 4th consecutive month of contraction.
here is the actual text:
As a result of soft sales and traffic levels and a deteriorating outlook among restaurant operators, the National Restaurant Association’s comprehensive index of restaurant activity remained essentially flat in July.
The Association’s Restaurant Performance Index (RPI) – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 99.4 in July, down 0.1 percent from June and its fourth consecutive decline. In addition, the RPI stood below 100 for the third consecutive month, which signifies contraction in the index of key industry indicators.
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Restaurant operators reported negative same-store sales for the fourth consecutive month in July, with the overall results similar to the June performance.
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Restaurant operators also reported a net decline in customer traffic levels in July.
Not sure that the Staffing Index is indicating anything recovery related.
adp number:
Private sector employment decreased by 10,000 from July to August on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The estimated change of employment from June to July was revised down slightly, from the previously reported increase of 42,000 to an increase of 37,000.
The decline in private employment in August confirms a pause in the recovery already evident in other economic data.
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Unlike the estimate of total establishment employment to be released on Friday by the Bureau of Labor Statistics (BLS), today’s figure does not include the effects of federal hiring — and now firing — for the 2010 Census.
From the Pragmatic Capitalist this short video clip of Jan Hatzius of Goldman Sachs discussing unemployment: WILL UNEMPLOYMENT REMAIN STRUCTURALLY HIGH?
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