NO JOB GAINS IN AUGUST
In August, nonfarm payroll employment totaled 131.1 million - as it did in July. The Labor Department measured no job growth in the economy for the first time since September 2010. Additionally, employers reduced the average work week slightly to 34.2 hours. The unemployment rate remained at 9.1% last month. (1)

CONSUMER SPENDING IMPROVES BY 0.8%
This hugely encouraging July figure from the Commerce Department trounced forecasts and represented the best month for the statistic since February. Personal incomes improved by 0.3% in July; the personal savings rate hit a four-month low. (2)

PENDING HOME SALES DOWN, HOME PRICES UP
The National Association of Realtors announced pending home sales had declined by 1.3% in July following three months of gains. The number of sales contracts was still 14.4% better than a year before. July's Case-Shiller Home Price Index was notable for indicating a 3.6% 2Q gain in home prices, though the index was still down 5.9% year-over-year. (2,3,4)

MANUFACTURERS SIGNAL MINOR EXPANSION
The Institute for Supply Management's August purchasing manufacturers index ticked down to 50.6 from July's 50.9 mark. So the sector is growing, but not by much (50 is the line between expansion and contraction). The new orders sub-index improved 0.4% to 49.6. (5)

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