Thursday | March 06, 2003
Jobless data up, retail market down
For every bit of good economic news (like worker productivity increases or increases in factory orders), there are equally bad offsetting ones. Today's:
Posted March 06, 2003 08:35 AM | Comments (22)
- Retail spending is down, sparking fears that consumer spending may be weakening (and consumer spending has propped up the weak economy);
- Jobless claims rose unexpectedly, with a seasonally adjusted 430,000 new jobless claims in the week ending March 1. Anything above 400,000 is considered a sign of a weak labor market.
- Car sales are way down, despite strong car-maker incentives. Auto manufacturers appear to have decided to lower production rather than keep increasing incentives.