This Week in ¯\_(ツ)_/¯

You see the real problem
Ordinary folk are making more money


Cannot separate signal from noiseUnemployment claims drop and inflation disappoints.

What the f%$# this means, I have no clue:

U.S. producer prices increased moderately in March as a rise in the cost of services was softened by a fall in goods prices, calming fears of a resurgence in inflation.

The report from the Labor Department on Thursday led economists to anticipate milder increases in the inflation measures tracked by the Federal Reserve for monetary policy relative to the strong consumer price readings in March.

High inflation and persistent labor market strength have prompted financial markets and most economists to push back expectations for an initial Fed interest rate cut to September from June. The minutes of the U.S. central bank's March 19-20 policy meeting, which were released on Wednesday, also showed policymakers were concerned that progress on inflation might have stalled.

"Producer prices tell us that inflation is not worsening, yet," said Christopher Rupkey, chief economist at FWDBONDS. "Policymakers can remain vigilant as they await more data on where inflation is heading next. Tamer producer prices may spell some relief for consumers in coming months."
The producer price index for final demand rose 0.2% last month after increasing by an unrevised 0.6% in February, the Labor Department's Bureau of Labor Statistics said. Economists polled by Reuters had forecast the PPI would gain 0.3%.

In the 12 months through March, the PPI advanced 2.1% after rising 1.6% in February.

………

In a separate report on Thursday, the Labor Department said initial claims for state unemployment benefits dropped 11,000 to a seasonally adjusted 211,000 for the week ended April 6. Economists had forecast 215,000 claims for the latest week.

Unadjusted claims increased 17,037 to 214,386 last week. There was a surge of 4,190 in filings in New Jersey, likely the result of temporary layoffs related to spring breaks at public schools. There were also notable increases in claims in New York, Texas, Oregon and Pennsylvania.

The Easter and Passover holidays, whose timing shifts every year, also tend to inject volatility into the claims data. Nonetheless, last week's data suggested the labor market remained healthy early in the second quarter. Job growth accelerated in March, while the unemployment rate slipped to 3.8% from 3.9% in February.

The number of people receiving benefits after an initial week of aid, a proxy for hiring, increased 28,000 to 1.817 million during the week ending March 30, the highest level since January, the claims report showed. The uninsured unemployment rate was unchanged at 1.2%.

I'm feeling like Michael Binkley here: