Today’s weekly update on initial jobless claims is a blow-out bullish report. It may be a game-changer, although let’s see how the revisions to the data go over the next several weeks. For now, let’s simply recognize that new filings for unemployment benefits dropped a whopping 31,000 to a seasonally adjusted 292,000—the lowest since 2006! It could be the result of a glitch in reporting, as Bloomberg notes. But for now let’s leave that aside and consider the data as reported, keeping in mind that next week we could see the numbers run up again.
Daily Archives: September 12, 2013
US Retail Sales: August 2013 Preview
US retail sales are expected to rise 0.4% in tomorrow’s update for August, according to The Capital Spectator’s average econometric forecast. That’s up from the previously reported 0.2% gain in July. Meanwhile, the Capital Spectator’s average projection for August is at the low end of the range relative to consensus forecasts based on recent surveys of economists.