Thursday, June 10, 2010

Initial Claims Down, But

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.