Mixed Economic News
Orders for durable goods jumped 3% in January, twice the expectations of forecasters. January unfilled manufacturers orders rose .1%, the first rise in 15 months.
Initial claims for jobless benefits rose last week by 22,000 to a total of 496,000.That’s the highest level of initial claims since mid November.
Jobs are a lagging indicator. Employers do more with fewer workers until they are certain the upturn is real. Let’s hope that hiring starts to catch up with production, and soon!