Hiring increased significantly over the last year according to new jobs reports. The unemployment rate fell to 7.7% in February, its lowest point in four years, though fewer Americans are participating in the job market. A survey of the non-manufacturing sector showed strong growth in new orders and sales. Stock markets rose to new highs last week and economic reports were mostly positive, though factory orders declined in January.

1. Major League Investments, Inc. Presents:
WEEKLY ECONOMIC UPDATE
March 11, 2013
WEEKLY QUOTE HIRING HAS REALLY PICKED UP
“Simplicity is the key During June-August 2012, non-farm payrolls grew by an average of 135,000 jobs a
to brilliance.” month. Across September-November, that average improved to 181,000 per month.
From December-February, the economy added an average of 191,000 jobs a month.
- Bruce Lee The icing on the cake: the latest monthly report from the Labor Department showed
236,000 new jobs generated in February, including the biggest monthly surge of
hiring in the construction industry in six years. Unemployment fell to a four-year
WEEKLY TIP
low of 7.7% in February, but the percentage of Americans either working or looking
If you paid an au for work hit a 30-year low – 130,000 people dropped out of the job hunt. 1
pair, maid or other
domestic employee
KEY INDEX SHOWS HEALTHY SERVICE SECTOR
more than $1,800 in
The Institute for Supply Management’s non-manufacturing PMI came in at 56.0 for
2012, you are
February – the best reading in 12 months, up from 55.2 in January. ISM noted a
looking at the “nanny
3.8% increase in new orders, a 5.5% rise in backlogs of orders and a 3.7% gain in
tax”. See IRS
prices last month.2
Publication 926 and
talk with your tax
advisor. BEIGE BOOK ENCOURAGES, BUT FACTORY ORDERS DIP
The Federal Reserve’s latest “Beige Book” survey of economic conditions noted
modest growth in most of its 12 districts since January, with increased hiring a
WEEKLY RIDDLE major factor. Last week, the Commerce Department reported a 1.2% rise in
You can’t outrun it or wholesale inventories and a 2.0% drop in factory orders for January. 3,4
hide from it. You only
notice it when there is MORE HISTORY IS MADE
light, but it shows A 2.18% weekly gain brought the DJIA to a new record close of 14,397.07 Friday.
only darkness. What The S&P 500 (+2.17% to 1,551.18), NASDAQ (+2.35% to 3,244.37) and Russell
is it? 2000 (+3.04% to 942.50) also had terrific weeks. As for the CBOE VIX, it dropped
17.84% in five days to finish last week at 12.62. Gold ended the week at $1,577.7o
per ounce on the COMEX, oil at $91.88 a barrel on the NYMEX. 4,5
Last week’s riddle:
Kristi and David live at THIS WEEK: On Monday, earnings reports arrive from Urban Outfitters and
opposite ends of a metro Dick’s Sporting Goods. Costco reports earnings on Tuesday. Wednesday, the Census
area but attend the same Bureau gives us retail sales figures for February, the Commerce Department notes
college. David left for
campus 30 minutes
January business inventories, and Express, Inc. announces quarterly
before Kristi and they results. February’s PPI arrives Thursday, plus Q4 results from Aeropostale. Friday
met at a coffee house. is a quadruple witching day that also sees the release of the February CPI, data on
Who was closer to February industrial output, and the preliminary March consumer sentiment survey
campus when they met? from the University of Michigan.

2. Last week’s answer:
% CHANGE Y-T-D 1-YR CHG 5-YR AVG 10-YR AVG
They were both at the
same distance from DJIA +9.87 +11.54 +4.21 +8.60
campus when they met
each other, as they met NASDAQ +7.45 +9.22 +9.33 +14.86
at the same location.
S&P 500 +8.76 +13.56 +3.99 +8.71
REAL YIELD 3/8 RATE 1 YR AGO 5 YRS AGO 10 YRS AGO
10 YR TIPS -0.50% -0.21% 1.01% 1.72%
Sources: cnbc.com, bigcharts.com, treasury.gov - 3/8/134,6,7,8
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Citations.
1 - www.mercurynews.com/business/ci_22746707/us-adds-236k-jobs-unemployment-falls-7-7 [3/8/13]
2 - www.ism.ws/ISMReport/NonMfgROB.cfm [3/5/13]
3 - online.wsj.com/article/SB10001424127887324178904578343432769615600.html [3/6/13]
4 - www.cnbc.com/id/100537377 [3/8/13]
5 - online.wsj.com/mdc/public/page/mdc_commodities.html [3/8/13]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F8%2F12&x=0&y=0 [3/8/13]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F8%2F12&x=0&y=0 [3/8/13]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F8%2F12&x=0&y=0 [3/8/13]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F7%2F08&x=0&y=0 [3/8/13]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F7%2F08&x=0&y=0 [3/8/13]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F7%2F08&x=0&y=0 [3/8/13]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F7%2F03&x=0&y=0 [3/8/13]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F7%2F03&x=0&y=0 [3/8/13]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F7%2F03&x=0&y=0 [3/8/13]
7 - www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [3/8/13]
8 - www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [3/8/13]