Initial Jobless Claims down.
Initial Jobless Claims (week ended 2/6/2016)
– New Claims seasonally adjusted 269,000. Previous was 285,000
– New Claims unadjusted were 290,804 a decrease of 21,136 from previous
– 4-week Moving Average seasonally adjusted 281,250. Previous was 284,750
Jobless Claims are a small part (about 15%) of the dynamics of the jobs market as we see in each month’s BLS Employment Situation Report. Also, the media-touted “jobs are doing well” story misses the point that so may of the job gains in the past few years have bee low-paying” waiters and waitresses, bartenders, and retail clerks. Manufacturing – which produces higher paying jobs – remains in recession.