The market’s generally been ignoring the economic indicators this week. It’s no surprise given the bigger economic indicators due out next week, including the biggest of them all – the BLS’ employment situation report – to be released next Friday.
Initial Claims: Summary
Here’s a summary of today’s indicators.
- Initial Claims were 311K, 19K better than what analysts expected and 10K better than last week.
- Continuing Claims were 2.2823 million, about 77K better than expectations and down an incredible 53K from the prior week.
- The labor market, as measured by the claims numbers, is certainly better. The big swings also probably point to problems in the seasonal adjustment process; next week’s numbers are likely to be higher given the gigantic drops this week.
- The...
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