Smoothing the jobless claims data by the four-week average shows that this reading on claims fell by 5,250 to 379,000.
The good news here is that we are not going right back in the direction of 400,000 claims each week. The bad news is that these numbers are not helping the jobs and payrolls situation outside of the efforts of lower and lower workforce participation.
JON C. OGG
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
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