The US finally received some positive economic news after what has been a disappointing week

The US finally received some positive economic news after what has been a disappointing week. Jobless claims fell 26,000 to 323,000 last week, with the year-over-year change in claims showing a decline once again (after barely ticking higher in the previous week). The most important part of the news is it supports the prevailing theory that poor weather hurt the labor market more than anything. If that's the case, then several key economic reports should show improvement in the coming weeks. Since initial jobless claims tends to be a forward looking indicator, it's a very good sign that warmer weather will bring with it a healthy does of positive economic data. US businesses must surely be thankful that spring is around the corner. (VIEW LINK)