4/2/2012 – theGrio and CNBC Market Update
VIDEO - The markets are closed for Good Friday but investors await reports on jobs, the service sector and consumer credit...
The markets are closed for Good Friday but investors await reports on jobs, the service sector and consumer credit.
Where are the jobs? We’ll find out with the March employment report. In February, the national unemployment rate was unchanged at 8.2 percent. Business services and manufacturing saw some of the biggest gains. African American unemployment declined to 13.6 percent. And African American teen unemployment fell sharply to 38.5 percent, but remains the highest of any group.
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We’ll check on the service sector with the March report from the Institute for Supply Management, which tracks construction, transportation and retail activity. In February, service sector growth rose to a 57.3 reading its highest level in nearly a year driven by an increase in new orders and hiring.
We’ll gain insight on consumer finances with the February consumer credit report, which tracks credit card, auto and student loans. In January, consumer credit rose by nearly $18 billion, the second largest gain since 2004, boosted by strong auto sales and student loans.
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