Wholesale Prices Rise 0.1%, Jobless Claims Edge Higher
So, the deflation/inflation news was descent, but the jobs info is mixed (at best):
The performance of the PPI in July matched economists' expectations. The report may ease -- but not eliminate -- the Federal Reserve's fears about the remote threat that already low inflation could keep moving lower and turn into deflation, an economically dangerous slide in prices.Posted by Steven Taylor at August 14, 2024 08:20 AM | TrackBackNew claims for unemployment benefits last week edged up by a seasonally adjusted 2,000 to 398,000, the department said in a second report. Even with the rise, claims have been under 400,000 -- a level associated with a weak labor market -- for four straight weeks, a sign that the pace of layoffs is stabilizing. Claims hit a high this year of 459,000 in the middle of April.
So that's a 6 to 1 ratio so far? And it's really just 0.05% below the 400K mark. The second derivative is just flat, not trending positive. Still, I'm glad to hear the news, however small the good news is.
Posted by: John at August 14, 2024 11:12 AM