Jobless claims drop, factories post rebound - Yahoo Head Line - But is in the body?
"There appears to be a noticeable deceleration of growth in the fourth quarter," said Peter Hooper, an economist at Deutsche Bank in New York. "It would not be surprising if some of the new jobless claims are due to underlying weakness in the labor market," he said.
An analyst from the Labor Department said several states were still reporting an increase in claims due to Sandy, a mammoth storm that slammed into the East Coast on October 29.
The data covers the same week when the department collects data for its estimate on hiring during the month, and gives some reason to expect softness in that report due on December 7, although not all analysts expect a significant impact. Nonfarm payrolls grew 171,000 in October.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 2.2 percent in the week ended Nov 16.
So now that the campaign propaganda is giving way to reality consumer sentiment is 'wavering'.
Our Fed has engineered or manipulated mortgage rates and the stability in housing is a definite economic strong point. But the longer manipulation continues the greater the chances of unintended consequences. Housing is tied most to stable employment which is why the 'improvement' in housing is primarily apartments and investor purchase of starter homes.
The reality is large companies have react to the election by activating downsizing/ layoff plans. Already anemic capital investment plans were frozen inclusive of drilling budgets.
Our Fed really is at the creative limit of what it can do to offset Obama/Progressive economic delusions and pure insanity. But they are not slowing down with demands for higher taxes on investment returns and coming fracturing regulation.