New Unemployment Claims Drop to 502k.

So close. I know I said that because of the lack of hiring the celebration point for the new claims number should be dropped from 500k to 400k. The truth is that I would celebrate just a little when we drop below the 500k mark. I’ll also celebrate a little when the numbers improve year over year, even if we’re comparing to a time when the economy was hemorrhaging jobs. It is true, though, that the two biggest celebrations should be reserved for the weekly number coming in below 400k and the monthly number coming in positive (net job creation, now that’s worth celebrating). I suspect the two will be closely related.

This week’s Unemployment Insurance Weekly Claims Report has been released. Initial claims dropped to 502,000. This was toward the low end of the Bloomberg consensus range of 495k to 525k. Last week’s number was revised up 2,000 to 514,000. [Read More]

--Posted by crazynutjob, The 405 Club

Previously:
Salute to Veterans for God, Country... and a Job!