{"id":3693,"date":"2011-03-03T07:41:15","date_gmt":"2011-03-03T14:41:15","guid":{"rendered":"http:\/\/www.jasonapollovoss.local\/?p=3693"},"modified":"2018-09-21T02:08:01","modified_gmt":"2018-09-21T06:08:01","slug":"lowest-initial-jobless-claims-in-three-years","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2011\/03\/03\/lowest-initial-jobless-claims-in-three-years\/","title":{"rendered":"Lowest initial jobless claims in three years!"},"content":{"rendered":"<p><span style=\"font-size: 16px;\">This morning the Department of Labor announced its weekly initial jobless claims were at their lowest level since 2008.\u00a0 Specifically, they fell by 20,000 claims to a level of 368,000.\u00a0 This figure compares to expectations from economists of a <em>rise<\/em> in jobless claims to 395,000.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\">Long-term readers of the blog know that I prefer to look at the four-week moving average for jobless claims because it smooths this very volatile data series.\u00a0 The four-week moving average fell to 388,500 from 401,250, a week earlier.\u00a0 This is a decline of 12,750 and the lowest level since the summer of 2008.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><strong>Analysis:<\/strong> Folks this is very good news.\u00a0 Any level of jobless claims below 400,000 usually means that the U.S. economy is adding jobs, rather than losing them.\u00a0 That the four-week moving average is <strong>finally<\/strong> below 400,000 is extremely significant.\u00a0 That it is at its lowest level since the Great Recession was planting roots in our economy is even more fantastic.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\">In my opinion, the first and, especially, the second quarters of gross domestic product growth are going to be such that the unemployment rate finally starts falling.\u00a0 This won&#8217;t happen rapidly, but it will happen consistently.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><strong>Importance grade:<\/strong> 10; the initial jobless claims number today is among the most important milestones of the economic recovery logged so far.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\">Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This morning the Department of Labor announced its weekly initial jobless claims were at their lowest level since 2008.\u00a0 Specifically, they fell by 20,000 claims to a level of 368,000.\u00a0 This figure compares to expectations from economists of a rise in jobless claims to 395,000. &nbsp; Long-term readers of the blog know that I prefer [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-3693","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/3693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=3693"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/3693\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=3693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=3693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=3693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}