With the biggest miss to expectations in 6 weeks, initial jobless claims rose to 282k (against 270k exp). For context this means jobless claims have gone nowhere since the end of QE3.
[4]
It appears it is time to double-seasonally-adjust this data to confirm the everything is awesome meme.
The smoothed average ticked up very modestly but hovers near 15-year lows.
[5]
Continuing Claims rose 11k to 2.222 million, missing expectations for the first time in 6 weeks.
* * *
Charts: Bloomberg
