Initial Claims Flatline Despite NY And Penn. Getting 'Back To Work'
It seems some sense of normality has returned to the initial claims numbers, if that could ever be the case, as NY and Penn saw initial claims drop 11,295 and 11,247 respectively this week. However, this 22,000-plus improvement was not enough to stall the rest of the nation as we saw a 17,000 rise in initial claims over last month. This week's data remains below the year's average, though not by much, and the trend of claims falling appears to have almost entirely stalled this year from the hope-driven moves of the previous two years.