Okay, depending on how you count, or when you count, Jobless claims went down. Also, GDP is growing at a steady, if somewhat subdued, rate. Things ain’t bad!
The number of people on unemployment benefit rolls dropped to the lowest level since August 2008, while those getting extended benefits also decreased.
GDP was steady, while corporate profits climbed at the slowest pace in three years, making the market nervous over the prospect that business investment and hiring will cool.
GDP QoQ Annualized
GDP Price Index
Core PCE QoQ
Initial Jobless Claims
Continuing Jobless Claims
Wire: BLOOMBERG News (BN) Date: Mar 29 2012 7:46:03
Jobless Claims in U.S. Decline to Lowest Since April 2008 (1)
March 29 (Bloomberg) -- The number of Americans seeking
unemployment benefits dropped last week to the lowest level in
almost four years, adding to evidence of an improving U.S. labor
Initial jobless claims fell 5,000 in the week ended March
24 to 359,000, the lowest since April 2008, the Labor Department
reported today in Washington. The median forecast of economists
in a Bloomberg News survey called for 350,000 claims. With the
report, the government data also contain revisions dating back
Wire: BLOOMBERG News (BN) Date: Mar 29 2012 7:50:33
Economy in U.S. Grew at 3% Annual Rate in Fourth Quarter (2)
March 29 (Bloomberg) -- The economy in the U.S. grew at a 3
percent annual rate in the last three months of 2011, the same
as previously estimated, while corporate profits climbed at the
slowest pace in three years, raising the risk that business
investment and hiring will cool.
The increase in gross domestic product was the biggest in
more than a year and followed a 1.8 percent gain in the prior
period, revised figures from the Commerce Department showed
today in Washington. Company earnings were up 0.9 percent from
the third quarter, the smallest advance since the last three
months of 2008.
While the report showed business spending on new equipment
and software climbed more the previously estimated, figures this
month indicate outlays are slowing following the expiration of a
government tax credit. Consumers may be poised to take a leading
role in the expansion as the biggest increase in employment
since 2006 gives households the confidence and means to spend.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury