Thursday, May 14, 2015

Is it a recovery yet? (Weekly report, 05-14-15)

A recovery would be indicated by weekly initial jobless claims holding below 500,000. ["'I think that we're hoping for the numbers to stay below 600,000, and not until we get below 500,000 can we be more certain that there is an economic recovery,' said Linda Duessel, market strategist at Federated Investors in Pittsburgh." (Reuters)]

IT'S A RECOVERY! (And it has been a recovery for every week since the Nov. 25, 2009 report, with the exception of the Aug. 19, 2010 report.)

"Initial jobless claims in the period stretching from May 3 to May 9 dipped by 1,000 to 264,000, the Labor Department reported Thursday." (Marketwatch)

Jobless Claims in U.S. Fall as 4-Week Average at 15-Year Low (Bloomberg) Weekly Initial Unemployment Claims decreased to 264,000, Lowest 4-Week average in 15 years (Calculated Risk blog) Weekly Initial Unemployment Claims as a Percent of Labor Force ["are at an all time record low"] (Calculated Risk blog)

SEE LAST WEEK'S POST HERE.

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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