Econ Contrarian

Personal Incomes, What? Rise? But We're In A Recession!

Personal income up more than expected

March 28, 2008 08:34 AM ET

WASHINGTON (Reuters) - U.S. personal income rose more than expected in February as the economy teetered on the brink of a possible recession, while both personal spending and a key price measure increased only slightly, a government report showed on Friday

Personal income rises, inflation moderates

The Commerce Department reported that February personal income rose 0.5 percent, exceeding a forecast of a 0.3 percent gain made by analysts polled before the report.

"The decline in the year-over-year core PCE is important in that it supports the notion the Fed is making the right decision in cutting rates aggressively and not threaten long-term price stability. It argues that the Fed can lower rates in the months ahead," said Zach Pandl, an economist with Lehman Brothers in New York.

Even Fewer People Are Looking For Jobs?

Jobless claims fell 9,000 last week

March 27, 2008 08:38 AM ET

WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits fell by 9,000 last week, the government said on Thursday, though a more reliable gauge of layoff trends rose to its highest in more than two years. Full Article

Requisite footnote on the "Econ Contrarian" series:

As with so many other complex issues in this modern world, I don't claim to know what tomorrow holds for the economy. There are just too many competing systems interacting in labyrinthine layers. But, since no one else seems to want to focus upon any of the positive indicators in this complex mix, I think I'll stand in the gap and shine a small, small light to illuminate a few contradictory indicators – indicators which make the more balanced point that while certain segments of the economy will certainly retract a bit after years of unprecedented growth, this doesn't exactly mean the expansion of the new era of Mordor.

On Principle,

CBass