The Initial Unemployment Claims were released today showing initial claims somewhat moving sideways over the past few weeks. Initial Unemployment Claims measures the number of persons whom filed for unemployment benefits for the first time in the prior week. The forecasted number called for 385k, but the actual headline number came in at 382k. This may appear to be a small glimmer of good news, but we need to see what the revision will be. The revision of the headline number is what we need to keep our eye on as last weeks number of 388k was revised up to 392k. As we saw in the prior announcement the delta in revisions can be quite significant. The 4 week moving average is at 384k relatively moving sideways.
No comments:
Post a Comment