Friday, April 15, 2016

Like dominoes

WSJ: Ohio, a key economic bellwether for the 2016 elections, could be seeing trouble on the job front.
The Buckeye State’s unemployment rate rose to 5.1% in March, up from a postrecession low of 4.6% recorded last summer, the Labor Department said Friday. The rate has returned to its year-earlier level.
Emerging weakness doesn’t help the turnaround story touted by Gov. John Kasich, a Republican presidential candidate.
The state’s unemployment rate peaked at 11% in January 2010, and fell swiftly until last summer. But a slowdown in manufacturing and the energy industry appears to be causing the jobless rate to tick back up. Those same industries have been retrenching nationwide.
We previously saw the same in Texas.  These are the second and seventh largest states. 
And this:

Industrial production decreased 0.6 percent in March for a second month in a row. For the first quarter as a whole, industrial production fell at an annual rate of 2.2 percent. A substantial portion of the overall decrease in March resulted from declines in the indexes for mining and utilities, which fell 2.9 percent and 1.2 percent, respectively; in addition, manufacturing output fell 0.3 percent.
We are about to here more economists making the call. 

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