Kevin Spires, CFA, FRM
In the chart to the left, one can see how today's Initial Jobless Claims release of 350k is a new cycle low. Down 26k from last week's 376k, the low number is being blamed on seasonal adjustment issues. Auto plant and textile plant shutdowns that normally take place in July and result in layoffs are lower than usual.
Year over year, claims are down 14.63%, and the four week moving average is down 10.53% year over year. The jobless claims data is not consistent with an economy growing 1.5%
The seasonal adjustment issues have been well publicized, but the overall trend has clearly been down, as the claims number has made lower highs and lower lows over the past 3 years.
Year over year, claims are down 14.63%, and the four week moving average is down 10.53% year over year. The jobless claims data is not consistent with an economy growing 1.5%
The seasonal adjustment issues have been well publicized, but the overall trend has clearly been down, as the claims number has made lower highs and lower lows over the past 3 years.
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