Economics Update

So, the BLS is reporting that job openings rose rapidly in February.

Looking at the ratio of jobs to the unemployed (see graph pr0n), there has definitely been some improvement, but first, it's still a pretty crappy number, and second, workforce participation is down, so this number is partially an artifact of that.

We also saw retail sales rise and a moderately good beige book from the Fed, though the former has partially been driven by increased gasoline prices.

What worries me, particularly with the deficit cutting fever out there, is the fact that Gallup Economic Confidence Index hit a low for the year.