THE BASIS POINT

Lowest Initial Jobless since May 2007

 

Initial Jobless Claims (week ended 4/5/2014)

– New Claims (seasonally adjusted) 300,000. Previous was 332,000

– 4-week Moving Average 316,250.  Previous was 321,000.

– New Claims (unadjusted) totaled 298,393 in the week ending April 5, an increase of 3,531 from the previous week.

The last time initial claims were this low was May 12, 2007 when they were 297,000

I think that what we see is an improved jobs market with a bit of extra confusion thrown is by the difficulty in adjusting for the movable nature of Easter.

Import and Export Prices (March 2014)

– Export Prices Month/Month +0.8%. Previous was +0.7%

– Export Prices Year/Year +0.2% – Import Prices Month/Month  +0.6%. Previous was +0.9%

– Import Prices Year/Year -0.6%

There is a modest amount of inflationary force here some of which may be weather related.

 

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