EMPLOYMENT, HOUSING AND THE MEDIAWhy does the media continue to hammer away at the weakest areas of the economy, employment and housing, while giving very little attention to the sectors that are showing signs of a recovery? It is true that the recovery in the economy is a jobless one and it is also true that the housing market remains extremely weak.
However, in spite of all of the bad press, jobless claims are actually beginning to look better. Claims in the week ended March 20 were 442,000, which compares to an estimate of 450,000 and continuing claims in the week ended March 13 were 4.65 million, when 4.562 million were anticipated. Although the continuing claims portion of the report was higher than the median guess, it is at the lowest level since December 20, 2008. The main event this week will be Friday's release of the March nonfarm payrolls report. The median estimate for this report is a 185,000 increase. (more)
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