Jobless Claims Print At 439K, Up 2K, In Line With Expectations; Prior Revised Traditionally Higher
Initial jobless claims come at 439K, up 2K from an upward revised (no surprise) prior 437K (was 435K), and just shy of expectations of 441K. Continuing claims come at 4.295MM compared to 4.343 MM in the prior week (revised from 4,301MM to 4,343MM). As there was a holiday in the prior week, the BLS noted that the level of estimates was once again high. In other words 20% of the data was estimated due to Veteran's Day. And since we refuse to let the BLS off the statistically irrelevant hook, here is the latest revision schedule on initial and continuing claims. Do the math.