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

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

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