This morning’s latest on weekly jobless claims is a bit of a setback, but it’s too early to panic. For one thing, last week’s seasonally adjusted 26,000 jump in new filings for jobless benefits is small for this series, given how much it bounces around from week to week. That argument won’t wash with the thousands of newly unemployed, of course, but as a macro matter there’s nothing particularly worrisome in today’s report. That is, until you start looking beyond the data.
Daily Archives: March 10, 2011
Pondering Austerity In The Months Ahead
There are more green shoots in the economy these days, but there are more risks as well. The question is whether the risks have enough momentum to overwhelm the positives? No one really knows the answer, of course, but it’s clear that the stakes are higher than just a month or two ago.