Unspinning The Labor Markets

2

by Jerry Bowyer

The press is swooning over this morning’s decrease in new jobless claims numbers. Case in point:

“(Reuters) – New applications for U.S. unemployment benefits hit a seven-year low last week while consumer prices recorded their largest increase in 10 months in April, pointing to a firming economy.”

“The economy’s outlook was further brightened by other data on Thursday showing factory activity in New York state expanding at its quickest pace in nearly four years in May.”

“”It conveys the message of solid economic activity. Labor conditions continue to improve and I expect this will be validated by payroll reports over the next few months,” said Anthony Karydakis, chief economic strategist at Miller Tabak in New York.”

Wow, hard hitting stuff, truth to power and all that.

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