Is it getting better

The answer is no…

I’m so disappointed with the market, the economy, the job market and most importantly with the people who never respond to emails… everything is going bad for me right now… just like the City of Detroit… first your car companies are doing bad, then the Lions go through a 0-16 season and then the Red Wings (supposedly the best team in NHL) lose to the Penguins in the Stanley Cup… there is no light at the end of the tunnel.

So let’s look at the recent numbers:

US GDP, fell at a 1.0 percent annual rate, after tumbling 6.4 percent in the January-March quarter, the biggest decline since a matching fall in the first quarter of 1982. It was previously reported as a 5.5 percent drop. With the contraction in the second quarter, U.S. GDP has fallen for four straight quarters for the first time since government records started in 1947.

The CPI for All Urban Consumers (CPI-U) increased 0.9 percent in June before seasonal adjustment. Nonfarm payroll employment continued to decline in June (-467,000),and the unemployment rate was little changed at 9.5 percent. Job losses were widespread across the major industry sectors, with large declines occurring in manufacturing, professional and business services, and construction.

The revised productivity data–as measured by output per hour of all persons–for the first quarter of 2009 were:

1.8 percent in the business sector and

1.6 percent in the nonfarm business sector.

In both sectors, the first-quarter productivity gains were greater than the preliminary estimates reported on May 7, due solely to revisions to output growth.

In manufacturing, the revised productivity changes in the first quarter were:

-2.7 percent in manufacturing,

-10.4 percent in durable goods manufacturing, and

1.9 percent in nondurable goods manufacturing.

Manufacturing productivity in the first quarter of 2009 fell at a slower rate than was reported on May 7. Output and hours in manufacturing, which includes about 11 percent of U.S. business-sector employment, tend to vary more from quarter to quarter than data for the aggregate business and nonfarm business sectors.

CPI for May 2009

The Consumer Price Index (CPI) is a measure of the average change in prices over time of goods and services purchased by households.

How is it calculated: The CPIs are based on prices of food, clothing, shelter, and fuels, transportation fares, charges for doctors’ and dentists’ services, drugs, and other goods and services that people buy for day-to-day living. Prices are collected in 87 urban areas across the country from about 50,000 housing units and approximately 23,000 retail establishments-department stores, supermarkets, hospitals, filling stations, and other types of stores and service establishments. All taxes directly associated with the purchase and use of items are included in the index. Prices of fuels and a few other items are obtained every month in all 87 locations. Prices of most other commodities and services are collected every month in the three largest geographic areas and every other month in other areas. Prices of most goods and services are obtained by personal visits or telephone calls of the Bureau’s trained representatives.

In calculating the index, price changes for the various items in each location are averaged together with weights, which represent their importance in the spending of the appropriate population group. Local data are then combined to obtain a U.S. city average.

The latest report can be found here. Here is a snapshot of the latest figures: