It will take more than four or five months of data to determine whether the sequester has had a significant adverse effect on the U.S. economy. But, thus far, the answer seems to be no.Economic growth during the first calendar quarter of 2013 was at a 2.5% annual rate. This was above 2012′s full-year growth rate of 2.2%. As for employment, according to the “B” table data in the Employment Situation Reports from the U.S. Department of Labor, the first four months of 2013 have seen nearly 800,000 jobs created. On an annualized basis, this is a faster job creation rate than 2012.
Sometimes when you lie with numbers, they come back and bite you.
The weekly report on initial jobless claims has seen numbers move lower rather than up and are at truly non-recessionary levels. Other reports — such as the Challenger layoff report — indicate the same.