Initial Jobless Claims up.
Initial Jobless Claims (week ended 5/7/2016)
– Initial Claims seasonally adjusted 294,000. Previous was 274,000
– Initial Claims unadjusted, totaled 261,840 an increase of 18,389 from previous
– 4-week Moving Average 268,250. Previous was 258,000
While Initial Claims are still historically low we may be bouncing off that low. Media accounts of the health of the jobs market have overstated the health of the economy. We are currently seeing weakness in tech and energy – 2 sectors with relatively high paying jobs.
Import and Export Prices (April 2016)
– Import Prices month/month 0.2 % 0.3 % 0.6 % 0.1 % to 1.7 % +0.3%. Previous was +0.3%
– Export Prices month/month 0.0 % 0.0 % -0.3 % to 0.5 % +0.5%. Previous was +0.0%
– Import Prices year/year -5.7%. Previous was -6.2%
– Export Prices year/year -5.0%. Previous was -6.1%
Some of this has to do with US Dollar weakness in April.