Employment continues to be among “the good,” showing continued strength this year. Initial jobless claims (on 4-week average basis) are at 273,750. The number has remained below 300,000 for nine consecutive months – the first time this has happened since 1999-2000 (see chart below). The job market is as robust as it has only been at times of strong economic growth.
Other economic indicators show continued weakness. Among “the bad,” both industrial production and durable goods orders have been weak for several months.
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