Initial Jobless Claims (week ended 4/20/2013)
– New Claims (seasonally adjusted) 339, 000. Previous revised from 352,000 to 355,000
– 4-week Moving Average (seasonally adjusted) 357,500. Previous revised to362,000
– Actual Claims (unadjusted) were 323,529 down 34,690 from the previous week.
This data is positive but too late to count in the April BLS Employment Situation Reports which will be out 5/3. Those reports sample the jobs market in the week which includes the 12th of each month.
Kansas City Federal Reserve Manufacturing Index (April 2013)
– Index Level -5 same as previous.
This is another in a series of weak regional Fed reports. Manufacturing remains weak. Manufacturing wile continuing to suffer from globalization also suffers by needing substantial capital investment to reestablish the capacity it had before the recession. It takes more capital to reestablish goods producing industry than it does to increase service producing industries.
Confidence may not be sufficient to justify capital investments and lending.