The Labor Market Defies Uncertainty
Much to the disappointment to the liberal media establishment, initial jobless claims came in at 207,000 (seasonally adjusted), down just a touch from last week’s revised figures and beating economists’ expectations by about 11,000. This signals that the labor market is still resilient in the face of an uncertain situation in the Middle East and high oil prices.
The media has insisted over the past two months that Trump’s war in Iran is going to slow the economy. If it is, it certainly isn’t showing up in the data. If the war was causing real problems for businesses, they would be slashing jobs, which is…
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