Initial jobless claims totaled 241k, about in line with the estimate of 240k and last week was revised up by 1k to 238k. As a 235k print drops out of the average, the 4 week average rose to 245k from 243k. Continuing claims, delayed by a week, rose by 8k.
The bottom line remains the same in that employers are keeping a hold on their employees in light of a shrinking pool of labor choices. The $64k question remains whether it will take higher wages in order to hold on tighter.
4 WEEK AVERAGE INITIAL CLAIMS
Peter is the Chief Investment Officer at Bleakley Advisory Group and is a CNBC contributor. Each day The Boock Report provides summaries and commentary on the macro data and news that matter, with analysis of what it all means and how it fits together.