Economic Statistics
Here are today’s statistics on the state of the economy:
Initial claims for unemployment fell by 5,000, to a lower than expected level of 348,000 for the week. The four-week average fell 1,250 to 355,000.
The Bloomberg Consumer Comfort Index fell slightly to -34.9. But, more people said the economy was improving than at any time in eight years.
Some previous data indicated home prices were improving. That would be good news, if it were true. But, it isn’t. The FHFA reports house prices in January were unchanged.
The Index of Leading Economic Indicators rose 0.7%, led by improvement in the labor market.
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Dale Franks
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I love fun with numbers, the comfort index was down, but people feel better about it. I trust almost nothing when Chicago runs the country.
I have a question about the initial unemployment claims.
Is it not correct that in order to claim unemployment you must have first had a full time job? If so, that means weekly, for an awful long time 350K or so people, who had jobs, have lost them. And if you were a part time employee, you can’t file for unemployment?
So why do we keep hearing the mantra about population growth etc, when population growth has nothing to do with the above because once you reach working age, whatever that is, you can’t file unless you had a full time job?