I have a more detailed analysis of yesterday’s very positive housing permits and starts data, and what it means for the economy for the rest of this year, over at Seeking Alpha. As usual, clicking over and reading helps reward me a little bit for my efforts.
This morning’s weekly jobless claims report continues the recent string of very positive numbers. Here’s the updated graph of the monthly average of initial claims, plus the 4 week average of continuing claims:
And here is the same information graphed YoY:
There isn’t going to be a recession so long as jobless claims stay close to their lowest levels and are lower YoY.