Economics Update
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That may be a bottom, but it ain't a recovery
It's jobless Thursday, and initial claims fell by 3,000 to 420,000, and the 4-week moving average fell by 5,250 to 422,750, another 2+ year low, but continuing claims rose by 22,000 to 4.14 million, and emergency/extended claims rose by 324,537 to 4.83 million.
That may be a bottom, but it ain't a recoveryI would call that mixed. Fewer people losing their jobs, but people looking for work are not finding it.
In real estate news, home prices declined 1.9% in October, and by 3.93% year over year, so we are still not seeing any signs of recovery there.
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