Initial Jobless Claims Jump Most In Over 5 Months
Having dropped to 297k last week (the first time below 300k since April 2006) as 'full' employment appears to have been reached but the 326k print this week (against expectations of 310k) was the biggest jump week-over-week since December 5th 2013. This level of initial claims is exactly in line with the average for 2014 so far at around 325k. Of course the market is not worried - as opposed to the manic buying panic last week when claims plunged, stocks shrugged off this big rise...
What is perhaps more worrying for the silver-lining hunters is that this considerably disappointing print falls in the same week as the non-farm payrolls survey period (though bad news will of course be good news should that disappoint).
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