Money Talk: Jobs Growth Taking Root At National Level
by February 9, 2015 7:01 am 91 views
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JOBS GROWTH TAKING ROOT AT NATIONAL LEVEL
For the week ended February 6, 2015, the S&P 500 Index rose 3.0% and the yield of the 10-year U.S. Treasury note rose 27 basis points to 1.95%. A plethora of economic reports boosted economic confidence, but none more than last week’s positive jobs numbers.
U.S. employers added 257,000 jobs to payrolls in January and government forecasters upwardly revised the number of new jobs added in November and December. The unemployment rate rose a tenth of a percent to 5.7% as more Americans searched for jobs. Vanguard reports:
The 257,000 added jobs exceeded consensus expectations of 235,000, and November and December data were revised upward by a total of 147,000. The unemployment rate ticked up to 5.7% from 5.6% in December. Discouraged workers—those not looking for work because they believe no jobs are available—declined by 155,000 over January 2014. Average hourly earnings were also up 0.5% from December to $24.75.
Other notes:
- Personal income continued growth, spending dropped
- Productivity declined
- Construction spending increased
- Trade deficit surged, but manufacturing indices still showed expansion
USA TRUCK SECURES NEW CREDIT DEAL, BOOSTS ACCESS TO CAPITAL
Van Buren-based USA Truck recently secured a $170 million credit line backed by several banks that will help the trucking company refinance debt at a lower interest rate and meet capital needs. The deal provides USA Truck with almost $100 million of liquidity at closing and “substantially” increases its access to capital, according to a statement the company issued Thursday (Feb. 5).
HUNT REPLACES McBRYDE IN STEPHENS PUBLIC FINANCE DIVISION
Dennis Hunt has been promoted to Executive Vice President and Manager of Stephens Inc.’s Public Finance Division. He succeeds Mark McBryde, who is stepping down after 40 years at Stephens Inc., but McBryde will continue to serve as an advisor to the division. Since 1993, Hunt has served as an investment banker and Public Finance manager in Stephens’ Northwest Arkansas office. Read more here.
SIMMONS FIRST MAKES EXECUTIVE PROMOTIONS
Simmons First National Corp., the holding company of Simmons Bank, announced it has promoted Tina Groves to Executive Vice President and Chief Risk Officer; Kevin Pletcher to Senior Vice President and Assistant Controller; and Burt Hicks to Chief of Staff and Vice President of Mergers and Acquisitions. Read more here on their new roles.