From Bloomberg:
Initial jobless claims continue to disappoint but only mildly, at 456,000 vs. expectations for 448,000 and vs. 459,000 in the prior week which was revised 6,000 higher. The four-week average rose for the fourth straight week to its highest level in three months, up 2,500 to 463,000.
BUT, here's the chart:
We're still moving sideways -- not a good place to be.
3 comments:
Continuing claims saw some pretty good downward movement but I suspect this is the expiration of benefits having an effect.
If you do a chart of nonseasonally
adjusted initial jobless claims it looks
different( not dramatically)....today's numbers were
the lowest nonseasonally inital
jobless claims numbers since 9/27/08.
Is the 4 week moving average being affected by that one week surge in claims last month? I think it was mid-May claims went up like 20k in one week. I ask, because initial claims have been down the last few weeks(although not a lot), so I dont see why the moving average should still be going up, unless that mid-May week is still in the average.
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