In the week ending Oct. 23, the advance figure for seasonally adjusted initial claims was 434,000, a decrease of 21,000 from the previous week’s revised figure of 455,000. The 4-week moving average was 453,250, a decrease of 5,500 from the previous week’s revised average of 458,750.
Meh. Again, wake me up when we see a 35x,000 print or below. That’s consistent with economic expansion and job growth.
That’s nice – another quarter-million people rolling off funemployment and now without any sort of income at all.
The market loved the report, of course, as CNBS and the rest of the media screamed “better than expected!”
If you’re one of the 250,000 that is newly without funds I’m sure you see it differently.