Initial Jobless Claims Beats; Continuing Claims Rise For 3rd Week

Tyler Durden's picture

Europe is collapsing, contagion is spreading, US firms are admitting "it's not the weather"... but initial jobless claims news is great so BFTD? After 5 weeks of misses, initial claims beat and fell to 304k - just shy of the record low for the cycle. Continuing claims rose though, missing expectations for the 2nd week in a row - this is the first 3-weeks-in-a-row rise since Feb.

Initial claims...

 

Continuing Claims rise for 3rd week in a row...

 

Chart: Bloomberg