Thursday, October 30, 2008
Weekly initial claims for unemployment have not increased at all in the past five weeks, and the much-touted 4-week moving average has fallen for the past three weeks. Claims today are about as high as they were at the peak of the last recession, which was the mildest on record. This confirms what the GDP data are telling us: to date the economy has experienced only a modest slowdown.
Posted by Scott Grannis at 10:36 AM