{"id":186613,"date":"2013-12-05T23:09:00","date_gmt":"2013-12-06T04:09:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/12\/05\/its-jobless-thursday-60\/"},"modified":"2013-12-05T23:09:00","modified_gmt":"2013-12-06T04:09:00","slug":"its-jobless-thursday-60","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/12\/05\/its-jobless-thursday-60\/","title":{"rendered":"It&#8217;s Jobless Thursday!!!!!"},"content":{"rendered":"<p>Initial unemployment claims <a href=\"http:\/\/www.bloomberg.com\/news\/2013-12-05\/jobless-claims-in-u-s-unexpectedly-decrease-to-two-month-low.html\">fell to below 300,000<\/a>, 298000, beating expectations, though the holidays have a lot of noise in there.<\/p>\n<p>More significantly, <a href=\"http:\/\/www.reuters.com\/article\/2013\/12\/05\/us-usa-economy-idUSBRE9B40KJ20131205\">3<sup>rd<\/sup> quarter GDP was revised upward by a large amount<\/a>:<\/p>\n<blockquote><p><span style=\"color: blue;\">The U.S. economy grew faster than initially estimated in the third quarter but weak demand and a pile-up in business inventories buoyed the case for the Federal Reserve to keep up its bond-buying stimulus for now.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Gross domestic product grew at a 3.6 percent annual rate instead of the 2.8 percent pace reported a month ago, the Commerce Department said on Thursday.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">It was the biggest gain since the first quarter of 2012, but inventories accounted for almost half of the increase in growth.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">&#8220;The strong third-quarter growth pace masks the more subdued tone in domestic activity, and as the bloated level of inventory is worked off, we are likely to see a much softer performance in growth in the fourth quarter,&#8221; said Millan Mulraine, senior economist at TD Securities in New York.<\/span><\/p><\/blockquote>\n<p>So, what happened was that more stuff was made, but it just filled up warehouse shelves.<\/p>\n<p>The holiday shopping season could be make or break for the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Initial unemployment claims fell to below 300,000, 298000, beating expectations, though the holidays have a lot of noise in there. More significantly, 3rd quarter GDP was revised upward by a large amount: The U.S. economy grew faster than initially estimated in the third quarter but weak demand and a pile-up in business inventories buoyed the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1089,992],"tags":[],"class_list":["post-186613","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-recession","category-statistics"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/186613"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=186613"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/186613\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=186613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=186613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=186613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}