Last weeks Initial Unemployment Claims was much worse than expected. Initial Claims measures the number of persons that filed for unemployment benefits for the first time in the prior week. The forecast called for 405k, but the actual headline number came in at 445k. This is a 2nd week in a row increase and was very expected after the Christmas retail season. Between this and last weeks number we tore right through the 4 week moving average. The delta between revisions came in at the lowest we've seen in years with it being off by 1k.
No comments:
Post a Comment