Jobless Claims: The Situation Remains, ‘All System Go’
Initial jobless claims declined -2,000 last week to 190,000, while the 4-week moving average increased by 1,750 to 193,000. Continuing claims, with a one-week delay, increased from 5,000 to 1,655,000. All of these remain excellent numbers:
(Click on image to enlarge)
To repeat my meme over the past year, virtually nobody is getting laid off. It’s almost impossible to have an economic downturn with that kind of evidence.
To wit, on a YoY basis, while the past week and continuing claims are both slightly higher, the crucially important 4-week average remains lower:
(Click on image to enlarge)
Unless and until the 4-week average goes higher YoY by at least 10%, this series is not even worthy of a yellow flag. For now, when it comes to employment, it remains ‘all systems go.’
More By This Author:
February Manufacturing And January Construction Continue Negative, While Auto Sales ImproveHousing Prices Continue To Come Down - Like A Feather
Durable Goods Orders: More Deceleration, Still No Recession
Disclaimer: This blog contains opinions and observations. It is not professional advice in any way, shape or form and should not be construed that way. In other words, buyer beware.
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