Continuing Claims Jump Most In 2 Months As Initial Claims Beat For 4th Week
Despite the last 2 weeks of 'systems upgrades' being responsible for lower-than-expected jobless claims data, the smart analysts and strategists had lower expectations to 325k - the lowest in 6 years - and sure enough claims beats expectations and prints 305k (for the 4th week in a row - 2 of them with broken systems).
This is a drop of 5k from last month's entirely made-up data as we note that once California (among the biggest contributors to the claims data) has caught up with its backlog - so theoretically this is a 'real' data point.
Continuing claims ticked up by the most in 2 months.
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