Jobless claims fell slightly last week, dropping by 6,000. That’s good news. The trouble is that we’re still at an elevated 472,000 on a seasonally adjusted basis. One data point doesn’t say much, of course. What does the longer-term trend show? Lots of volatility recently, but nothing much has changed.
Daily Archives: September 2, 2010
A BRIGHT LIGHT IN A DARK ROOM
Manufacturing activity turned up again last month, the Institute for Supply Management reported yesterday, offering the first statistical review of August’s economic profile. The crowd was pleased: stocks soared and bond prices fell. But the bigger test of the trend in August comes tomorrow, when the government’s payrolls report for last month is published.