It's The Economy Stupid: Trade Balance & Jobless Claims

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
Trade Balance	JUN	-$47.5B	-$42.9B	-$48.7B	-$48.0B
Initial Jobless Claims	AUG 4	370K	361K	365K	367K
Continuing Jobless Claims	JUL 28	3275K	3332K	3272K	3279K

 

Okay, better Initial Jobless Claims numbers.  Not great, but the jobless numbers seem to be no longer growing.  Jobless claims unexpectedly dropped by 6,000 to 361,000 in the week ended Aug. 4. The median forecast of 43 economists surveyed by Bloomberg News called for an increase to 370,000. Fewer firings mean employers are seeing enough demand to retain staff, indicating our economy may be sustaining the recovery from the recession.  Labor Department data last week showed payrolls rose more than forecast in July.  This is a good trend.

 

The Trade Balance numbers were much better.  Less imports, more exports.  Now that’s a trend we need to continue.  We need to improve OUR economy.  We cannot depend on European or Asian economic improvement. We need economic improvement.  The U.S. trade deficit narrowed more than forecast in June as the biggest drop in crude oil prices in more than three years helped cut the nation’s import bill.      The gap shrank 11 percent to $42.9 billion, the smallest

since December 2010, from $48 billion in May.

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street,

Turn Left to get to North Blvd,

Turn Right on North Blvd