Today's Economic Reports
1. Seasonally-adjusted weekly initial claims for unemployment fell to 351,000 for the week ending March 10, which is the lowest level in four years, since 347,000 claims for the week ending March 8, 2008.
2. Year-over-year Producer Price inflation for finished goods was 3.3% for the year ending in February, which was the lowest annual inflation rate since August 2010, and less than half of the 7% average inflation rate for finished goods from May through September last year.
3. Manufacturing activity in New York state continued to expand at a healthy pace and manufacturers in the state remain highly optimistic about activity over the next six months, according to today's Empire State Manufacturing Survey from the NY Fed.
More evidence of an economy making gradual, but ongoing improvements.
2 Comments:
Good jobs reports all around - a telling indicator is the level of payrolls required for steady unemployment (see chart). We are currently above this level suggesting that unemployment has finally embarked on a sustainable trend lower.
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ADS Analytics
1. Seasonally-adjusted weekly initial claims for unemployment fell to 351,000 for the week ending March 10, which is the lowest level in four years, since 347,000 claims for the week ending March 8, 2008.
Come now Mark. Even you have to know that when you make seasonal adjustments that assume bad weather and you don't have bad weather those adjustments are useless.
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