Jobless Claims Remain low but GDP Growth is Slow.

Initial Jobless Claims (week ended 4/2/2016)

 

– New Claims seasonally adjusted  267,000. Previous was 276,000
– New Claims unadjusted, totaled 246,023  an increase of 10,307 from previous
– 4-week Moving Average  266,750. Previous was 263,250

The Jobs market continues to be a relatively poor indicator of economic growth.  We have had an extended period of lower Initial Jobless Claims, modestly more people working when adjusted for population growth yet have weak GDP growth. Part of this has been that jobs growth in the past few years has been in relatively low paying jobs.  We lost people in manufacturing and gained waitresses and bartenders.