Thursday, July 07, 2011

Economic Recovery Watch

1. The American Staffing Association Staffing Index, a weekly barometer of temporary and contract employment that is also a key coincident economic indicator and a leading indicator of total U.S. nonfarm employment reached a year-to-date high of 88 for the week ending June 26.  It was also the highest weekly reading during the month of June since 2008 three years ago.

2. The International Air Transport Association (IATA) is reporting a 6.8% increase in global passenger traffic for May compared to the same month last year.  

3. Passenger traffic at Washington Reagan Airport increased 8.1% in May compared to a year ago. 

4.  The American Association of Railroads is reporting another weekly gain in rail traffic for the week ending July 2, with both carloads and intermodal volume increasing compared to the same week last year.

5. The Cass Freight Index, a monthly, broad-based measure of shipping activity across a wide range of industries reached a three-year high in June of this year, with more shipments in any single month since June 2008. 

6. Shipping volume at the Port of Portland for the month of May was 23% above the same month last year, and 63.5% above May two years ago. 


At 7/07/2011 11:17 PM, Blogger Rufus II said...

Evidently, a Lot of freight has moved from trucks to railroads. With "freight" up, significantly, and diesel usage Down significantly, that's about all that makes sense.

Gasoline usage is still flat as a pancake YOY.

At 7/08/2011 7:55 AM, Blogger morganovich said...

and yet job creation is still horrific.

"U.S. employers added 18,000 workers in June, the fewest in nine months, and the unemployment rate unexpectedly climbed, indicating a struggling labor market.

The increase in payrolls followed a 25,000 gain that was less than half the rise initially estimated, Labor Department data showed today in Washington. The median estimate in a Bloomberg News survey called for a June gain of 105,000. The unemployment rate rose to 9.2 percent, the highest level this year. Hiring by companies, which excludes government agencies, was the weakest since May 2010. "

thus far, none of these temp indexes have proven to be leading at all.

At 7/08/2011 7:59 AM, Blogger Hydra said...

How does freight et to and from the railraods? By truck. Many rail shipments mainly consist of trucks or containers.

Gas usage is flat as people avoid unneccessary trips, and drive more efficient cars.

We need to stop considering modes as competitors, and look at transportation as a system.

How about a system of car transporters, similar to the way rail carries trucks. Auto train does this, but why not use regular auto transporters in a similar way? Go to a termnal,drive on a truck, and be transported to the next city.

Oh, thats right, regulations prohibit people being transported in trailers.

At 7/08/2011 10:51 AM, Blogger Free2Choose said...

A closer read of the Cass Freight report reveals the analysts' conclusion that, "this [rise in freight shipments] is not a reversal of the economic slowdown we have seen develop over the last two months."

At 7/08/2011 1:25 PM, Blogger Ron H. said...

"How about a system of car transporters, similar to the way rail carries trucks. Auto train does this, but why not use regular auto transporters in a similar way? Go to a termnal,drive on a truck, and be transported to the next city."

The reason you are driving a car in the first place, is so you can reach your destination in a relatively short period of time. Your auto transporter idea defeats this purpose.

There are already things called buses, that cost less than driving yourself in a car, but the trade offs are loss of convenience, comfort, and longer travel times.

Shipping by rail is less expensive than shipping by truck, but the trade off is slower delivery.

At 7/08/2011 6:39 PM, Blogger Craig Howard said...

Despite the many excellent articles written by the good Professor, I still get annoyed at the tsunami of Pollyanna news.

I guess it just goes to show, though, that, even in bad times, some parts of the economy are growing.

Hmmm, if we could only see our way clear to encouraging those instead of trying to prop up the dead parts.

At 7/08/2011 7:00 PM, Blogger Bernie Ecch said...

Is the increase in traffic at Reagan airport due to the 82% pay raise that Matthew Voegel got as Obama's special assistant for economic policy? Or the 86% pay raise to Kevin Lewis for director of African American media?

Meanwhile the Republican-comtrolled House isn't any better. An increase in the budget to the already super sized military. Start bringing troops home and cut the budget. These highly motivated members will do well in the civilian secotr.


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