Jobless claims are up from last week. It’s not real bad in and of itself, just continued indication of a weak economy. Supposedly the last couple of week’s numbers were weak due to the seasonal auto plant shutdowns. Yeah, yeah, yeah, statistical noise. The bottom line is job growth has been insufficient.
Challenger Job Cuts YoY
RBC Consumer Outlook Index
Initial Jobless Claims
Continuing Jobless Claims
The Challenger Job Cuts report today showed employers announced fewer job cuts in July than the same month last year as dismissals eased
at retailers, government agencies and some manufacturers. Planned firings fell 44.5 percent from July 2011 to a 15-month low of 36,855, according to figures released by Chicago-based Challenger, Gray & Christmas Inc. The year-over-year decline in dismissals was the biggest since January 2011.
The four-week moving average for jobless claims, a less volatile measure than the weekly figures, fell to 365,500 last week, the lowest since March, from 368,250.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury