Initial Claims: 474K - Bring Out QE3
And scene: jobless claims explode to 474K, beyond the worst economist expectation, far above consensus of 410K, and well above the previous (upward revised of course) number of 431K. This is the worst claims number since Aigist 2010. Game over for the US "recovery."
Welcome to the US Recovery:
Those collecting EUC and Extended Claims continue dropping of the 99-week roster, with 48K no longer collecting weekly government paychecks.
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