Jobless Claims Rise Above Expectations
Initial jobless claims were just reported. After last week’s jump in claims, economists had expected 383k to file first-time claims for unemployment benefits. The actual number was slightly higher; 387k filed claims. Last weeks report of 386K filing claims (which was also higher than expected) was revised higher, to 389k claims. It is very likely that this weeks number will be revised higher next week. This is not a good trend.