Job numbers

For where we are presumed to be in the economic cycle, job numbers keep coming back not half bad. Initial jobless claim 4-week moving average still well below 400,000, headline unemployment at 5.0 going perhaps to 5.1 (remember that a decade ago Paul Krugman himself was saying 5.5-6% was as low as unemployment could go before things became inflationary).

One wonders if corporations are particularly loathe to lay off now because they're seeing the bigger picture of baby boomer retirement coming down the road, and therefore particularly fear the cost of onboarding and training. Also because of uncertainty around potential future employees' ability to relocate in the uncertain housing market of 12-24 months out.

Who knows. For the moment, at least, they ain't fired the kid.