Michael McKee

Take out food and energy and we're up eight tenths after seven tenths last month.

And take out trade to that and you're up three tenths.

That one's down just a little bit.

Last month, we saw a big rise in trade services and that is not happening this month.

On a year over year basis, headline 2.9.

X food and energy is 3.6 and X food and energy trade 3.4.

212,000.

That's up a little bit from 208,000, a revised number from last week, but it is still a very low number.

Continuing claims, 1,833,000, down from 1,864,000 the prior week.

And of course, those are a week delayed.

It looks like what we're seeing is continued low fire, low hire.

That's what all the Fed people are talking about and doesn't seem to be any indication that we're moving on from that.

And we're finally getting to the point now where you're past all the holiday distortion.

So you're getting kind of a clean read, more or less.

It looks like what we're seeing is continued low fire, low hire.

That's what all the Fed people are talking about.

And it doesn't seem to be any indication that we're moving on from that.

And we're finally getting to the point now where you're past all the holiday distortions.

So you're getting kind of a clean read, more or less.

He doesn't think they're going to have a significant effect because he said even if the president puts on new tariffs, it will just be the same thing.