> BUREAU OF LABOR STATISTICS, THURSDAY, JULY 5, 2001:
>
> The number of Americans filing new claims for state unemployment insurance
> rose last week after falling for 3 weeks in a row. The jump provided
> fresh evidence that the struggling economy continues to take a toll on
> workers. The Labor Department reported Thursday that new applications for
> jobless benefits for the workweek ending June 30 increased by a seasonally
> adjusted 7,000 claims to 399,000, the highest point since the middle of
> June. The week before, claims fell by 12,000. The more stable 4-week
> moving average of jobless claims,which smoothes out week-to-week
> fluctuations, declined last week to 407,500, the lowest level since the
> end of May (Jeannine Aversa, Associated Press,
> http://www.nypost.com/apstories/business/V7392.htm;
> http://www.boston.com/dailynews/186/economy/Jobless_claims_rise_as_labor_m
> :.shtml; http://www.usatoday.com/money/economy/2001-07-05-jobless.htm).
>
> Nonfarm payrolls probably declined by 13,000 jobs in June, with a loss of
> 80,000 jobs in manufacturing, based on S&P's MMS median forecast. In May,
> payrolls fell by 19,000, with manufacturers cutting 124,000 positions.
> The job cuts likely lifted the unemployment rate to 4.6 percent, from 4.4
> in May (Business Week, July 9, page 118).
>
> Orders to U.S. factories rebounded in May, their best performance in
> nearly a year. Stronger demand for cars and semiconductors led the way.
> The Commerce Department reported that factory orders rose 2.5 percent in
> May, after a 3.4 percent decline the month before. Orders for
> transportation products registered the biggest increase, rising 3.5
> percent after a drop of 9.4 percent in April. Excluding the often
> volatile transportation sector, factory orders jumped by 2.3 percent in
> May, the best showing in a year (The Washington Post, July 4, page E2).
>
> Orders placed with factories rose in May for the third time in the last 4
> months, led by increased demand for autos and semiconductors. Inventories
> fell for a fourth consecutive month, suggesting manufacturers may have to
> bolster production after an eight-month decline (The New York Times, July
> 4, page C5).
>
> DUE OUT TOMORROW: The Employment Situation: June 2001
>
application/ms-tnef
