Unemployment Claims Lowest Since the 1960s

This morning the unemployment claims report came in at 210,000. This number tends to bounce around a lot so economists prefer to look at the four-week moving average. That number is down to 220,500 which is the lowest since December 27, 1969. For the raw number, it’s the lowest since December 6, 1969.

(Yeah, I know. I said lowest since the 1960s, but I’m technically right.)

We also learned that the ISM manufacturing index for February rose to 60.8. Expectations were for 58.6. That’s the highest since 2004.

I like the ISM report because it comes out on the first business day of the month. The day after the GDP report we get the personal income and spending report for the prior month. Since the GDP was revised yesterday, this morning we get personal income and spending for January. Personal income rose by 0.4% in January while spending increased by 0.2%.

Posted by on March 1st, 2018 at 12:00 pm


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