Jobless Claims Highest since July.

Initial Jobless Claims (week ended 12/5/2015)

– New Claims seasonally adjusted 282,000. Previous was 269,000
– New Claims  unadjusted, totaled 384,481  an increase of 121,853 from previous
– 4-week Moving Average seasonally adjusted   270,750. Previous was 269,250

With the seasonal adjustment being so large it is difficult to interpret this data.  Large seasonal adjustments are not unusual during the Christmas shopping season. The seasonally

adjusted data is the highest since the week ended July 4.

 
Import/Export Prices (November 2015)

 
– Import Prices month/month -0.4%. Previous was -0.3%
– Export Prices month/month -0.6. Previous was -0.2%
– Import Prices year/year   -9.4%. Previous was -10.5%
– Export Prices year/year   -6.3%. Previous was -6.7%.

This is ongoing and has at least 2 causes:  1) commodities are priced in US $ and with the dollar being strong commodity prices fall and 2) there is slowing or slowing of growth of GDP in many countries.  Demand for industrial metals has been falling indicating a weaker than announced economy in China.  OPEC’s inability to curtail supply has hammered crude prices.