Initial Jobless Claims (week ended 12/26/2020)

- Initial Claims seasonally adjusted  376,000. Previous was 385,000

- Initial Claims  unadjusted, totaled 367,117 a decrease of 58,196 from previous

- 4-Week Moving Average seasonally adjusted  402,500. Previous was  428,000

Total receiving regular state UI increased by 1,492

Total receiving Pandemic UI decreased by  12,730

Total receiving Emergency Pandemic UI decreased by 69,869 

Total receiving any UI decreased by 95,099

Source:  Labor Department   Details: https://www.dol.gov/ui/data.pdf

 

CPI (May 2021)

- CPI month/month, seasonally adjusted  +0.6% . Previous was 0.8%

- CPI year/year not seasonally adjusted   5.0%. Previous was 4.2%.

- Ex-Food & Energy month/month, seasonally adjusted  +0.7%. Previous was +0.9%

- Ex-Food & Energy not seasonally adjusted   year/year  3.8%. Previous was 3.0%

The year/year not seasonally adjusted   5.0% is the highest in 13 years.  The month/month core fell.  

Inflation is and should be a concern but it is not evident that it is going to be out of control. Recovery from the  pandemic will generate odd data through 4thQ. 

Source:  BLS  Details: https://www.bls.gov/news.release/cpi.toc.htm