Initial Claims Flat at 351,000

Another piece of good-but-not-great economic news: “In the week ending February 18, the advance figure for seasonally adjusted initial claims was 351,000, unchanged from the previous week’s revised figure of 351,000. The 4-week moving average was 359,000, a decrease of 7,000 from the previous week’s revised average of 366,000.”

This 350k figure we’re hovering around isn’t the most torrid number in American history, but it’s very consistent with non-recessionary circumstances and an improving labor market picture. Worries remain Europe and gas prices, but note that collapse in Europe tends to push gas prices down.