Initial Jobless Claims Drop Back Under 300k, Continuing Claims Rise
"Slack" or "no slack" - initial claims tumbling along the bottom of the lowest levels in a decade suggest the US economy's job creation is as good as it gets. Initial claims was stable at 298k (vs expectations of 300k) down very small from the 299k adjusted data for last week. Continuing claims rose 25k on the week and missed expectations but also continues to tread water at the lowest levels since 2007.
Finally - some may remember this chart as the best indicator of why stocks should keep rallying... still feel that way?
Now where have we seen this before?
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