Initial jobless claims remained below 200k but rebounded to 196k from 183k last week and that was 6k above the estimate. This brings the 4 week average to 189k from 192k as a 206k print drops out. That’s the lowest since April. Continuing claims bounced by 38k to 1.69mm and that is the most since the 3rd week in December.
The bottom line remains the same in the low pace of overall firing’s but also a modest rate of hiring’s (at least based on this metric) with continuing claims near the highest level in a year.
4 Week Avg in Initial Claims
Continuing 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.