May 2021 ISM and Markit Services Surveys Improve And Remain Well Into Expansion
The ISM improved and remained in expansion whilst the Markit PMI improved and now is at record highs.
Analyst Opinion of the ISM and Markit Services Survey
With the economy reopening, it comes as no surprise that both of these indices are well into expansion.
From Econoday:
Stronger client demand spurs sharper output expansion
Cost burdens rise at quickest pace on record
Further steep increase in employment despite hiring
May PMI™ data indicated the fastest rise in business activity since data collection for the series began in October 2009. The unprecedented expansion in output was supported by a marked increase in new business, in turn buoyed by the quickest rise in new export orders for nine months. Greater business requirements resulted in a further sharp rise in employment. That said, the pace of job creation softened as firms reported difficulties filling vacancies. Strain on capacity was
As firearms have gone DIY,
a Senate committee grappled Tuesday with what the United States is doing to restore order in the changing criminal landscape.
This screenshot from livestream shows Baltimore Police Commissioner Michael Harrison testifying remotely at a Tuesday hearing of the Senate Judiciary Committee. (Image via Courthouse News)
WASHINGTON (CN) Early in the morning on March 2, 2020, a fight broke out at a North Philadelphia bar between 22-year-old Anthony Nieves and 25-year-old Zaire Williams. It was soon broken up by a few onlookers, and Williams, a former Temple University football player, reportedly won the fight. But before the men could go their separate ways, Nieves took out a black Glock-style handgun and shot Williams in the head.
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In its April jobs report, the US Labor Department said American employers added just 266,000 nonfarm payroll jobs last month and the unemployment rate rose to 6.1% from 6% in March, according to the New York Times.
As Covid cases decline and more states ease restrictions, businesses have added jobs for four consecutive months. Economists had expected a gain of about 1 million for April. The number of new jobs added was lower than the March number of 770,000, showing that some businesses are struggling to find enough workers as the economy recovers.
Most economists indicate job growth will strengthen as even more vaccinations are administered, the NYT reported. But the jobs report also indicates that economic recovery has been so fast that many businesses have been unable to fill all their job openings. Some workers have entered new occupations. And even more, especially women, have left the workforce to care for children.
Beverly Pickering s pet sitting business cratered during the height of the pandemic. Now, she says, it s booming, and her customers are traveling again. (Beverly Pickering)
Beverly Pickering says her neighbors in suburban Detroit are hitting the road. And that s good news for her pet sitting business. I have people going to California, Florida, the Carolinas all over the country, she says. It s travel, travel, travel. It s just exploded.
Pickering s business all but evaporated last year when most people were stuck at home with their pets. But now her phone is ringing steadily, with customers eager to travel and make up for lost time.