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Thursday: Unemployment Claims, PPI

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by Calculated Risk on 1/12/2022 08:52:00 PM

Thursday:
o At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for 210 thousand initial claims.

o Also, at 8:30 AM, The Producer Price Index for December from the BLS. The consensus is for a 0.4% increase in PPI, and a 0.5% increase in core PPI.

o At 10:00 AM, Testimony, Fed Governor Lael Brainard, Nomination Hearing, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate

And on COVID (focus on hospitalizations and deaths):

COVID Metrics
Now
Week
Ago
Goal
Percent fully Vaccinated
62.6%

>=70.0%1
Fully Vaccinated (millions)
208.0

>=2321
New Cases per Day3?
761,535
556,134
<=5,0002
Hospitalized3?
124,163
91,030
<=3,0002
Deaths per Day3?
1,656
1,238
<=502
1 Minimum to achieve “herd immunity” (estimated between 70% and 85%).
2my goals to stop daily posts,
37-day average for Cases, Currently Hospitalized, and Deaths
? Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths
? Goal met.

Click on graph for larger image.

This graph shows the daily (columns) and 7-day average (line) of positive tests reported.

The 7-day average for new cases and hospitalizations are at record levels.
Fortunately, deaths are still below the previous 7-day average record of 3,421 per day in January 2021.

Fed’s Beige Book: "A sudden pull back in leisure travel, hotel occupancy and patronage at restaurants"

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