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Mortgage rates eased back following a big move up last week, with the benchmark conforming 30-year fixed mortgage rate falling to 5.16 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.42 discount and origination points.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.6 percent before seasonal adjustment.

All employees

Real average hourly earnings for all employees fell 0.1 percent from December to January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This decrease stemmed from a 0.4 percent increase in average hourly earnings, which was partially offset by a 0.4 percent increase in the Consumer Price Index for All Urban Consumers (CPI-U).

The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.1 percent in January to 112.3 (2004 = 100), following a revised 0.8 percent increase in December, and a 1.1 percent increase in November.

The Conference Board Leading Economic Index® (LEI) for Korea increased 1.3 percent and The Conference Board Coincident Economic Index® (CEI) increased 0.6 percent in December.

In the construction sector, seasonally adjusted production fell by 1.8% in the euro area (EA16) and by 3.1% in the EU27 in December 2010, compared with the previous month. In November, production decreased by 0.9% and 0.8% respectively.

Half of Baby Boomer clients who have postponed retirement due to the economic downturn expect to work at least four years longer than they originally planned, according to CPA financial planners surveyed by the American Institute of Certified Public Accountants.

A new WorldatWork study, Survey on Workplace Flexibility, provides an inside look at employers’ views on flexibility. The study was designed to gauge the impact of flexibility programs on employee attraction, motivation and retention and also examine the manner in which these programs are managed. The study revealed that while a vast majority (98%) of U.S. employers offer at least one workplace flexibility program, most (nearly 60%) use an informal approach, i.e., no written policies or forms, up to manager discretion, etc., and four out of 10 say flexibility is culturally embedded. The study found that a stronger culture of flexibility is correlated with a lower voluntary turnover rate.

With consumers showing spending power beyond the holiday season, January marked the seventh straight month of retail sales gains. According to the National Retail Federation, retail industry sales (which exclude automobiles, gas stations, and restaurants) for January increased 0.2 percent seasonally adjusted from December and 3.5 percent unadjusted year-over-year.

A growing crisis in state and local government finance is undermining the economic recovery in Silicon Valley, according to the 2011 Silicon Valley Index released by Joint Venture: Silicon Valley Network and Silicon Valley Community Foundation.