The Kauffman Foundation’s latest quarterly survey of “leading economics bloggers,” which generously includes yours truly, reports that “optimism is out; pessimism is in,” according to the press release. Tim Kane, the survey’s director and a scholar at the foundation, says: “This quarter’s survey provides an unprecedented level of pessimism about the state of the U.S. economy among top bloggers.”
Daily Archives: July 28, 2011
Is The Rough Patch Over? Lower Jobless Claims Inspire Fresh Hope
Ah, a breath of fresh statistical air. Just when you thought the economic gods had cast us into cyclical hell, today’s update on initial jobless claims delivers a counterpunch. Last week’s tally of new filings for jobless benefits dropped by a hefty 24,000 to a seasonally adjusted 398,000—the first dip below the 400,000 mark since early April. It may or may not last, but let’s bask in the glow, if only for a moment.