Employment by Industry (U.S.): In April 2021, the total number of seasonally adjusted (SA), non-farm people employed in the U.S. was 144.3 million (M) – an increase of 266,000 (+0.2%) month on month (m/m). When compared to April 2020, total employment is up by 10.9% year on year (y/y).  Although the numbers are relatively flat for the month, we saw the greatest employment gains within the service-providing sector.

Oil and Gas Rotary Rig Counts:  The total number of operating rigs in the U.S. for the week ending April 30th was 342 oil and 96 gas (totaling 438). In percentage terms, on a month on month (m/m) basis, oil rigs were up 1.5% and gas was up 5.5%.

Oil and Gas Rotary Rig Counts:  The total number of operating rigs in Canada for the week ending April 30th was 20 oil and 31 gas (totaling 51). In percentage terms, on a month on month (m/m) basis, oil rigs were down 16.7% and gas down 31.1%.

Advance Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods in March 2021 increased by 0.5% month on month (m/m) to $256.3M, following the 0.9% decrease in February. The always-volatile nondefense aircraft orders, up 1000+% y/y, influenced this trend significantly.

­­U.S. Steel Capacity Utilization: The total tonnage for the week ending March 27th was 1,760 million net tons, at a capacity utilization rate of 77.6%. The year-to-date tonnage output is 22,510 million net tons, at an average capacity utilization rate of 76.5%. In 2020, the same output total was 24,515 million net tons, at an average capacity utilization of 80.9%.

Oil and Gas Rotary Rig Counts:  The total number of operating rigs in the U.S. as of March 26th was 324 oil and 92 gas (totaling 416). In percentage terms, on a month on month (m/m) basis, oil rigs were up 4.9% and gas was flat. Looking at year over year (y/y), rigs were down 48.1% for oil and down 9.8% for gas. The combined figure for y/y was -42.7%, or -311 rigs.