Stocks Up, Unemployment Picture Mixed, Market Basket Stable, and Casino Revenues Up from Last Month
08/28/10
This month we continue to track some key metrics that create a snapshot of the regional economy. As you look at the statistics, remember that they will represent the most recent data available (to us), so if you have something that is more up-to-date or more accurate, please let us know.
Here’s our look at where the region stands at the mid-way point of the third quarter.
Casino revenues for July were up from June by almost $80 million, but still off from 2009 levels by 5%.
Unemployment figures for the region have a “mixed” look, with the percentage of the workforce that is unemployed dropping in four of our eight counties, while it was up in two, and unchanged in two from May to June. Burlington and Salem showed slight increases, although Burlington continues to lead the region at 9.1%, which is .4% lower than the state and federal numbers (both stood at 9.5% for June).
Cape May was the biggest winner, dropping from 10.6% to 8.5%, which we can probably attribute to all of the seasonal jobs connected with the county’s heavy-duty tourism industry.
Our SNJBP Stock Index showed improvement, up 2.6% for the year. Only three of the ten stocks we’re following are down for the year—based on the early August closing prices.
Finally our consumer inflation watch is up slightly (+ $.19) at $75.96 for a prototypical “market basket.” Milk, lettuce and gas were up, while tomatoes dropped.
Stay tuned as we watch what happens during the rest of the year. And if you think there are some “numbers” we should consider adding, drop SNJBP publisher Jenny Ryan a note at jenny@snjbp.com.
Casino Revenues: July 2010 (millions) UP (from June)
Jul’10 Jun’10 May’10 Jan‘10 2009 Total Rev
Win: $363.8 $286.8 $319.70 $294.20 $2,005.30
% Chng -5.0% -11.1% -9.0% -8.5%% -13.2%*
(from 2009) (from 2008)
Unemployment Rate: June 2010 MIXED
Jun ’10 May ’10 Apr ’10 Mar ‘10
Atlantic 12.0% 12.4% 12.6% 13.6%
Burlington 9.1% 9.0% 9.0% 9.6%
Camden 10.6% 10.6% 10.5% 11.0%
Cape May 8.5% 10.6% 12.6% 16.3%
Cumberland 12.9% 13.0% 13.1% 14.4%
Gloucester 10.1% 10.1% 10.2% 10.8%
Ocean 9.8% 10.0% 10.3% 11.4%
Salem 11.1% 10.9% 11.0% 11.8%
NJ 9.5% 9.7% 9.8% 9.7%
US 9.5% 9.7% 9.9% 9.7%
Stock Watch: August 2010 UP
Closing Closing YTD
Ticker Price Price Change
Company Name Symbol 12/31/09 8/9/10 ($)
Campbell Soup CPB 33.80 36.21 2.41
Checkpoint CKP 15.25 20.02 4.77
Gannett GCI 14.85 13.49 -1.36
J&J Snack JJSF 39.96 40.46 .50
L-3 Communication LLL 86.95 74.55 -12.40
Lockheed Martin LMT 75.35 75.60 .25
PHH Corp PHH 16.11 22.35 6.24
PSEG PEG 33.25 32.67 -.58
TD Bank TD 62.72 71.70 8.98
Valero VLO 16.75 18.23 1.48
TOTAL: $394.99 $405.28 $10.29 (+2.6%)
Regional Market Basket: August 2010 ?
Aug ’10 Jul ’10 Jun ’10
Breakfast:
Eggs, large, 1 dozen, $2.69 $2.69 $2.69
Acme brand
Breakfast Cereal: $4.49 $4.49 $4.49
Cheerios (14 ounce box)
Milk $4.15 $3.99 $3.99
(1%, 2%, or whole, Acme brand; gallon)
Coffee $3.89 $3.89 $3.89
(Maxwell House 11 oz. canister)
Tropicana Orange Juice $4.19 $4.19 $4.19
(1/2 gallon carton)
Lunch:
Campbells Soup $5.00 $5.00 $5.00
(Double Noodle; 3 cans)
Bumblebee Chunk Lite Tuna $1.39 $1.39 $1.39
Butter $3.99 $3.99 $3.99
(Acme brand, one pound)
Kraft Crackerbarrel Cheese $5.39 $5.39 $5.39
(10 oz. pkg)
Stroehman’s Bread $3.59 $3.59 $3.59
Whole Wheat (24 oz. pkg)
Dinner:
3–pack Romaine Lettuce, $3.99 $3.78 $3.99
Acme brand
Plum Tomatoes (1 lb.) $1.79 $1.99 $2.99
Classico Spaghetti Sauce $3.19 $3.19 $3.19
(24 oz. jar)
San Giorgio Spaghetti $1.65 $1.65 $1.69
(1 lb. box)
Health and Beauty Aids/Cleaning:
Tide Laundry Detergent
(100 oz. bottle, liquid) $15.99 $15.99 $16.49
Pantene Classic Care Shampoo
(25.4 oz.) $6.99 $6.99 $6.99
Scott Bathroom Tissue
(individual 1K sheet roll) $1.09 $1.09 $1.09
Gasoline:
Valero Gasoline Regular Unleaded
(cash/gallon) $2.499 $2.479 $2.479
Total Cost: $75.96 $75.77 $76.38
