The orders component should jump out and catch your eye, ... We're still in expansion mode, and recovery is in no jeopardy of derailing, but it's not racing away from us.

Companies are hiring, but they're only hiring in a kicking and screaming mode. They explore all other options before they agree to add staff.

Now, with the economic recovery appearing to be somewhat in place and the central bank not lowering rates, we see people trying to get in at the gates before rates start to rise.

The recovery is proceeding, but gradually, and that's actually healthy. It's the kind of recovery central bankers dream of -- gradual, not explosive, and therefore long-lasting and sustainable.

These jobless claims figures strongly suggest that any discussion of a runaway economic recovery have been greatly exaggerated. Instead, what we see here is a recovery that continues to face significant headwinds emanating from the employment front.

These jobless claims figures strongly suggest that any discussion of a runaway economic recovery have been greatly exaggerated, ... Instead, what we see here is a recovery that continues to face significant headwinds emanating from the employment front.