{"id":189573,"date":"2010-03-10T21:05:00","date_gmt":"2010-03-11T02:05:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/03\/10\/economics-update-80\/"},"modified":"2010-03-10T21:05:00","modified_gmt":"2010-03-11T02:05:00","slug":"economics-update-80","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/03\/10\/economics-update-80\/","title":{"rendered":"Economics Update"},"content":{"rendered":"

Yeah, I know, It’s no longer daily. A new job does that, and it’s de rigeur<\/span> on Thursday, because that’s when the unemployment data comes out<\/a>.<\/p>\n

In this case, it’s down 6k to 642K, but the 4 week moving average rose 5,000 to 475,500, and continuing claims, which I am no longer a part of were flat at 4.56 million.<\/p>\n

Basically, dropping jobless claims don’t mean rising employment until some point below 400K a week, so don’t get your hopes up.<\/p>\n

BTW, not getting their hopes up is what small businesses are doing right now<\/a>, with the National Association of Independent businesses’ index of small business optimism falling to the 2nd<\/sup> lowest level ever recorded, and the Manpower Survey of hiring managers was down slightly<\/a>, though their Asian numbers were somewhat improved.<\/p>\n

In real estate, foreclosure rose by “only” 6% year over year<\/a>, leading to paroxysms of prodigious positivism by the Panglossian press, but it means that foreclosures are still rising<\/span>.<\/p>\n

Meanwhile, in China, they are freaking out over their inflation levels<\/a>, which have risen to a 2.7% annual rate (merciful heavens, get me the smelling salts).<\/p>\n

Actually, if the PBC raises rates to reign in inflation, I don’t see how they could keep their peg against the dollar, because higher rates push just about any currency up.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yeah, I know, It’s no longer daily. A new job does that, and it’s de rigeur on Thursday, because that’s when the unemployment data comes out. In this case, it’s down 6k to 642K, but the 4 week moving average rose 5,000 to 475,500, and continuing claims, which I am no longer a part of …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1170,973,975,1200,1089],"tags":[],"class_list":["post-189573","post","type-post","status-publish","format-standard","hentry","category-china","category-economy","category-employment","category-inflation","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189573"}],"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=189573"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189573\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}