Recovery Winter Continues As New Jobless Claims Fall

Another good datapoint: “In the week ending February 4, the advance figure for seasonally adjusted initial claims was 358,000, a decrease of 15,000 from the previous week’s revised figure of 373,000. The 4-week moving average was 366,250, a decrease of 11,000 from the previous week’s revised average of 377,250.”

This is the most real-time indicator we have of the state of the labor market.