1/31/13 11:19 AM – Mixed Economic Data

The Chicago region ISM report was much stronger than indicated, usually a good indicator of manufacturing strength. On the other hand, weekly jobless claims were higher. I am not so much interested in weekly jobs data; it varies a lot.

But, as I have often written, the job market is not nearly as good as the unemployment rate suggests. It may be better than in 2009 and 2010 but I’m not sure much progress has been made since, construction and energy excepted.

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