THE BASIS POINT

Initial Claims & Inflation Remain Low.

 

Initial Jobless Claims (week ended 5/9/2015)

– New Claims (seasonally adjusted) 264,000. Previous was 265,000.
– New Claims totaled 242,640  an increase of 6,219  previous
– 4-week Moving Average 271,750. Previous was 279,500.

Continuing Jobless Claims are at a 15-year low.  Yet, per last week’s BLS Employment Situation Report were are seeing only mediocre gains in jobs.  Population adjusted jobs growth in April was 57,200. Gains is jobs were strong in  health care and restaurant workers. Initial Jobless Claims is a look into just over 10% of the people moving in and out of the jobs market.

 
PPI-FD (April 2015)


– PPI-FD month/month -0.4%. Previous was +0.2%
– PPI-FD year/year  -1.3%. Previous was -0.8%
– PPI-FD core (less food & energy month/month)  -0.2%. Previous was +0.2%
– PPI-FD core (less food & energy) year/year  +0.8%. Previous was +0.9%
– PPI-FD core (less food, energy & trade services) month/month +0.1%. Previous was +0.2%
– PPI-FD less food, energy & trade services year/year  +0.7%. Previous was +0.8%
– PPI-FD Goods month/month  -0.7%. Previous was +0.3%
– PPI-FD Goods year/year  -5.5%. Previous was -4.3%
– PPI-FD Services month/month  -0.1%. Previous was +0.1%
– PPI-FD Services year/year  +0.9%. Previous was  +0.9%.

Inflation is simply not happening.

 

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