I’m Still Waiting For My Category 5 Bush Boom

From Holden:

The new jobless report is in, and it does not paint a pretty picture.

In the week ending Sept. 17, the advance figure for seasonally adjusted initial claims was 432,000, an increase of 8,000 from the previous week’s revised figure of 424,000. The 4-week moving average was 376,250, an increase of 29,000 from the previous week’s revised average of 347,250.

And just what was the previous week’s new jobless figure before it was revised to 424,000? 398,000 claims. That’s right, the revised figure for last week is a whopping 26,000 claims higher than the official number they originally reported. New jobless claims have grown by 100,000 over the past two weeks.

Economists are also anticipating the latest peek at the leading economic indicators later today. No Bush Boom there, either.

The Conference Board’s index of leading economic indicators may have dropped 0.3 percent in August, according to economists in a Bloomberg survey. The leading indicators gauge, which the New York-based research group designed to signal how the economy will perform in the next three to six months, rose 0.1 percent in July and last declined in March.