The Good News Economist

Clunkermania: Top Good News Economic Story of the Year

Steve,

I don't have access to the CEA raw data, but the 42,000 number released by them is referenced in multiple stories including the bloomberg story here:
www.bloomberg.com/apps...

Initial Claims at Lowest Rate Since January as Auto Plants Restart

Good Day Steve!

Yes, certainly there has been much speculation about NSA and SA numbers in the data. Many have simply said "ignore the data" for the next several weeks. As you point out though the first piece of good news is that regardless of SA / NSA anomalies, claim rates are now trending down. My second point here is that it is highly likely that those anomalies are caused by the govt models being screwed up by significant changes to this year's factory closures at non-seasonal times. The good news there is that bk proceedings have moved very swiftly and factories that had been closed at Chrysler and GM will now be (or are) coming back on-line quickly (again non-seasonally).

For those who choose to dismiss the next several weeks of jobs data because the factory restarts are screwing the models, I would simply posit that they should have also ignored the data when the car factories went off-line earlier in the year.

Hope all is well with you!

GNE

Wednesday Headline Review: Good News Everywhere

Artful,

You are most welcome. Thanks for continuing to read and comment.

GNE

Gloom and Doom Returns to the Markets

Actually one down day does not merit the claim that "Gloom and Doom are Returning to the Markets."

In fact consumer and investor confidence continues to gain huge ground... the last two weeks look like this:
mast-economy.blogspot....

And the Rasmussen report out this morning is even better....
www.rasmussenreports.c...

Those are the best readings since Sept...