The flip-flopping noise of the initial claims data continues as last week's spike and miss is rebounded into this week's beat and drop. At 300k - down 27k from last week - initial claims are at their lowest since May 2007 - practically as good as it gets. Continuing claims continue to fall - now at 2.63 million - to the lowest in the cycle and lowest since Nov 2007. Continuing claims are falling at the fatest pace since 2010.
Initial claims near cycle lows...
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As continuing claims plunges to cycle lows at the fastest pace since 2010...
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Chart: Bloomberg