I have been following New Deal democrat for a long time now. What NDd is reporting in this post is a big deal going into November’s Elections. In spite of all the negativism being reported by political interests, the economy is still moving forward. People are still working. I keep having to remind people about what 2008 was about. The last two years could have been far worse. run75441 Improvement in initial jobless claims continues – by New Deal democrat Initial jobless claims continued their reversal from had been in an almost relentless uptrend from spring through early August. This week initial claims declined another -5,000 to 213,000, and the 4 week average declined another -8,000 to 224,000. Continuing claims, which lag
Topics:
NewDealdemocrat considers the following as important: August 2022, Hot Topics, jobless claims, politics, US EConomics
This could be interesting, too:
Robert Skidelsky writes Speech in the House of Lords – Autumn Budget 2024
Merijn T. Knibbe writes Völkermord in Gaza. Two million deaths are in the cards.
Peter Radford writes Who brought us Trump?
NewDealdemocrat writes Real GDP for Q3 nicely positive, but long leading components mediocre to negative for the second quarter in a row
I have been following New Deal democrat for a long time now. What NDd is reporting in this post is a big deal going into November’s Elections. In spite of all the negativism being reported by political interests, the economy is still moving forward. People are still working. I keep having to remind people about what 2008 was about. The last two years could have been far worse. run75441
Improvement in initial jobless claims continues
– by New Deal democrat
Initial jobless claims continued their reversal from had been in an almost relentless uptrend from spring through early August.
This week initial claims declined another -5,000 to 213,000, and the 4 week average declined another -8,000 to 224,000. Continuing claims, which lag somewhat, increased 2,000 from a heavily revised 1,401,000 the previous week (it had been initially reported at 1,473,000):
As I wrote last week, continued claims lag initial claims. I expected them to reverse lower, and they have, from a revised high of 1,437,000 on August 20.
I put this down to a positive effect of lower gas prices, which I also expect to positively influence consumer confidence and also Biden’s approval ratings.
The long term outlook in next year remains negative; but I only expect this to reassert itself once the effects of lower gas prices are fully reflected in the coincident and short term data.