{"id":188873,"date":"2010-07-15T21:10:00","date_gmt":"2010-07-16T02:10:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/07\/15\/economics-update-46\/"},"modified":"2010-07-15T21:10:00","modified_gmt":"2010-07-16T02:10:00","slug":"economics-update-46","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/07\/15\/economics-update-46\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Well, it&#8217;s jobless Thursday, and the <a href=\"http:\/\/money.cnn.com\/2010\/07\/15\/news\/economy\/jobless_claims\/\">initial unemployment claims number have fallen to a 2 year low<\/a>, 429,000, though it should be noted that these are seasonally adjusted, and so this number takes into account, for example, GM&#8217;s summer shutdown, <a href=\"http:\/\/blogs.wsj.com\/economics\/2010\/07\/15\/jobless-claims-take-the-latest-drop-with-a-grain-of-salt\/\">which did not happen this year<\/a>, though, as the author notes, the fact that GM is seeing that much business is a good sign in and of itself.<\/p>\n<p>Unsurprisingly, the 4 week moving average fell as well, though continuing claims rose.<\/p>\n<p>On the other side of the coin, we are seeing a number of non-employment metrics weakening, with <a href=\"http:\/\/www.bls.gov\/news.release\/ppi.nr0.htm\">falling producer prices<\/a>, foreshadowing incipient deflation, while both the <a href=\"http:\/\/www.calculatedriskblog.com\/2010\/07\/ny-fed-manufacturing-conditions-improve.html\">New York Fed<\/a> and the <a href=\"http:\/\/www.calculatedriskblog.com\/2010\/07\/philly-fed-index-suggests-slowing.html\">Philadelphia Fed<\/a> numbers have softened.<\/p>\n<p>In real estate, <a href=\"http:\/\/www.latimes.com\/business\/realestate\/la-fi-foreclosures-20100715,0,5786857.story\">home foreclosures rose 38% year over year in the 2<sup>nd<\/sup>quarter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, it&#8217;s jobless Thursday, and the initial unemployment claims number have fallen to a 2 year low, 429,000, though it should be noted that these are seasonally adjusted, and so this number takes into account, for example, GM&#8217;s summer shutdown, which did not happen this year, though, as the author notes, the fact that GM &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1004,1088,1089],"tags":[],"class_list":["post-188873","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-finance","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188873"}],"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=188873"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188873\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=188873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=188873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=188873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}