- After a positive surprise in last week’s Initial Claims data where claims fell to near 400k (408k after revision), they bounced back up to 418k this week, 8k higher than expected and the 15th week in a row above 400k.
- The 4 week average is at 422k vs 424k last week.
- Continuing Claims fell by 50k and were 7k below forecasts.
- Extended Benefits fell a net 133k.
- Emergency unemployment compensation in particular fell to the lowest since Aug ’09.
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