The weekly figure for initial unemployment claims came in at 367,000. This is higher than last weeks reported amount, but just lower than the revised figure for last week. I assume that once today's figures are revised next week, we will see that the number is slightly higher than last week as revised. Today's figure is best described as "more of the same". It does not really tell us if the slowdown in economic growth of the last two months is continuing or coming to an end. It certainly is an indicator that things are not, at least, getting worse. The reality is that this report is just one that gets added to the pile without really telling us much.
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