- by New Deal democrat
Initial jobless claims, which had been in an almost relentless uptrend from the end of March until several weeks ago, declined again this past week.
Initial claims declined -4,000 to 232,000, while the 4 week average also declined -4,000 to 241,500. Continuing claims, which lag somewhat, increased 26,000 to 1,438,000, a 4.5 month high:
I mainly put this down to the decline in gas prices since early June relieving the system of some stress. This also puts a recession on hold for the immediate future.