Patrick Fearon
Patrick Fearon
despite february indicator might quite report strong
So despite the indicator today, the report for February might not be quite as strong as this is suggesting.
benefit bit companies competition economy helped increase level quite reaping stronger technology
Companies are reaping the benefit of enhancements in technology discovery, which has helped them increase their productivity. At the same time, there is a level of competition in the economy that is quite a bit stronger than it has been in the past.
demand expect high numbers period quite range within
The numbers are still quite healthy, they're still well within the range you would expect in a period of high demand for labor.
claims expected initial job range solid within
Initial claims were significantly better than the expected 300,000, and they were well within the range we would expect in a solid job market.
coming consistent continue home housing likely market moderate sales view
This is consistent with our view that the housing market is likely to continue to moderate in the coming months. But ... home sales are historically pretty strong.
bond calming core far gotten inflation influence price
The core PCE price index is a calming influence on the bond market. Inflation so far has far not gotten out of hand.
bond calming core far gotten inflation influence price
The core PCE price index is a calming influence on the bond market, ... Inflation so far has far not gotten out of hand.
certainly growth key lower rate
It's certainly lower than expectations so in that sense it was a disappointment, but the key thing is that this is still appreciably better as a growth rate than the long-term average, which is only about 3 percent,
consumer course
It's an encouraging sign, but of course we have a long way to go before you would say that the consumer is very optimistic.
believers finally labor market people starting
The labor market has been strengthening for a while, but it may be that people are finally starting to become believers in it.
below came decent expanding high level sector slightly suggest
The ISM manufacturing index came in at a decent level in January, just slightly below expectations, but still high enough to suggest that the manufacturing sector is expanding at a steady-as-she-goes pace.
continues economy grow large majority sector service shows side
The ISM index shows that the service side of the economy continues to grow well and that's important because that sector makes up the large majority of the economy.
certainly claims expect labor low range relatively remain strong though
Even though that was an 11,000 increase, you have to say claims remain relatively low and certainly in the range we would expect in a strong labor market.
claims compared general healthy indicator initial labor last low march market months remains several size trend workforce
The trend in general for the last several months has been in this ballpark, with initial claims being really pretty low compared with the size of the workforce and the size of the economy. So for some time, jobless claims have been and indicator that the labor market remains healthy and March payrolls probably will remain pretty healthy as well.