The US economy continues to pump out positive data points with the latest coming from the labor market. Year-over-year NSA claims improved to -9.8%, a sizable improvement than the -6.0% and -5.9% readings over the last two weeks. Remember that a smaller number (i.e. more negative) is better in this instance. With labor conditions accelerating since December, the overall improvement is a welcome addition to our theme of #GrowthStabilizing.
It’s worth noting that seasonally-adjusted claims "rose" 4k to 371k after last week's print was revised from 372k to 367k. Overall, the seasonally-adjusted series continues to bounce along the 365-375k range it has occupied post Hurricane Sandy renormalization.
