For a 3rd straight week, Initial Jobless Claims were above 380k. At 388k for the week ended Saturday, it’s 13k above expectations and last week was revised up by 3k to 389k. The 4 week average moved up to 382k from 376k, the highest since early Jan. Bottom line, the 1st week above 380k we were able to cite Good Friday as a reason in distorting the seasonals. The 2nd week in a row above 380k we said it bears watching. Now the 3rd week in a row above 380k and it’s more clear that the downward trend in firing’s has stopped for now. It’s possible though that we’re still feeling the other side of the mild winter weather that kept seasonal workers working longer than they would have than with a normal winter and now we’re seeing the give back continuing. Continuing Claims rose by 3k to a 3 week high but Extended Benefits fell by 60k.

Category: MacroNotes

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

One Response to “Initial Claims remain above 380k”

  1. [...] But truck tonnage inches up, as does traffic volume (pdf). Manufacturers’ earnings are up. Weekly unemployment claims remain high.Management: Incorporating FunAn entrepreneur finds out what happens when all of his [...]