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Labor Costs Rise…Jobless Claims Beat…Factory Orders Surge

Labor Costs Rise...Jobless Claims Beat...Factory Orders Surge

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Jobless claims beat this morning, as well as factory orders. However, productivity declined and labor costs popped. The American economy is at an inflection point as Democrats attempt to skate on the economic house Trump built. Irresponsible money printing and reckless spending of the Biden administration may be starting to bear fruit as inflation raises its ugly head via a surge in labor costs.

Financial markets are moving higher again today on the Fed money grease and helicopter money.

This will not last forever, for as the old Wall Street saying goes, “Interest rates are low until they’re not.”

Continuing Jobless Claims (Jan 22) printed at 4.592M vs 4.7M consensus estimate.

Challenger Job Cuts (Jan) printed at 79.552k.

Nonfarm Productivity (Q4) PREL printed at -4.8% vs -2.8% estimate.

Initial Jobless Claims (Jan 29) printed at 779k vs 830k estimate.

Unit Labor Costs (Q4) PREL printed at 6.8% vs 3.9% estimate.

Initital Jobless Claims 4-week average (Jan 29) printed at 848.25k estimate.

Factory Orders (MoM) (Dec) printed at 1.1% vs 0.7% estimate.

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