EMPLOYMENT
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Chapman report, continued ...
“A weighted average of changes in these variables, based on their
relative importance in explaining state employment growth, is used in
constructing the index,” says the report. “As shown in the following
figure, the index of leading employment indicator is strongly
correlated to state payroll employment growth.”
The report
cites that the four variables still show negative year-over-year growth
rates in the third quarter of 2009, but the annualized rate of declines
for three of the components is improving.
• Real exports growth declined at an annualized rate of 11.2 percent compared to a 15.2 percent decline the previous quarter.
•
Year-over-year percent change in real GDP showed a decrease of 2.3
percent, better than the decline of 3.8 percent, in the second quarter
of ’09.
• The S&P 500 is lower by 9.2 percent from its level
in the third quarter of 2008, a significant improvement from the
previous quarter decline of 28.2 percent.
• California
construction spending, which is derived from six-quarter lagged real
values of total building permit valuation, decreased by 28.4 percent in
the third quarter of 2009, worse than a decline of 23.2 percent in the
previous quarter.
The weak numbers in all four components explains why the indicator series remains below the reading of 100.
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Chapman report, continued ...
“A weighted average of changes in these variables, based on their
relative importance in explaining state employment growth, is used in
constructing the index,” says the report. “As shown in the following
figure, the index of leading employment indicator is strongly
correlated to state payroll employment growth.”The report cites that the four variables still show negative year-over-year growth rates in the third quarter of 2009, but the annualized rate of declines for three of the components is improving.
• Real exports growth declined at an annualized rate of 11.2 percent compared to a 15.2 percent decline the previous quarter.
• Year-over-year percent change in real GDP showed a decrease of 2.3 percent, better than the decline of 3.8 percent, in the second quarter of ’09.
• The S&P 500 is lower by 9.2 percent from its level in the third quarter of 2008, a significant improvement from the previous quarter decline of 28.2 percent.
• California construction spending, which is derived from six-quarter lagged real values of total building permit valuation, decreased by 28.4 percent in the third quarter of 2009, worse than a decline of 23.2 percent in the previous quarter.
The weak numbers in all four components explains why the indicator series remains below the reading of 100.
<< PREVIOUS PAGE
Related headlines
First-time homebuyer tax credit extension gets OK
'OC METRO Minute,' Nov. 6: William Lyon Homes reports smaller net loss
Newport Beach's Voit sees uptick in tenant transactions
The results are in: O.C. automakers report October stats
Financial reports: O.C. companies
