Initial Claims 388K, Miss Expectations, Previous Revised Naturally Higher To 394K, Would Have Missed Too
And so we find that last week's surprising beat was actually a miss as is this week's, which came at 388K on expectations of 380K, last week revised from 382K to 394K. Snow not blamed as this number sets a big question mark on tomorrow's NFP number. Continuing claims last week was also revised higher from 3,721K to 3,765K, with this week missing expectations (3,705K) as well at 3,714K. And the 99 week cliff is impacting more and more as persons claiming benefits on all programs, including EUC and Extended Benefits, increased by just 4,372. A US Labour spokesman says nothing unusual in last week's claims, and revisions showed mild upward shift.
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