The Labor Department has released its weekly jobless claims data. The figure came in as a gain of 11,000 in the jobless line at 444,000. We had a consensus expected from Bloomberg as being 437,000. The claims figure from the prior week was revised down to 433,000 from 434,000.
This will be a head-scratcher because of how many we saw in the most recent unemployment rate that have “opted out” of the labor force. The army of unemployed measured by the continuing jobless claims was listed a drop of 211,000 to 4,596,000, which is versus the revised level of 4,807,000 from the week before.
The four-week average did continue to come down, but only by 9,000. Today was not awful headline news, but it keeps hopes dim that the employment situation will continue rapid improvements.
JON C. OGG
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