In the week ending September 10, the advance figure for seasonally adjusted initial claims was 428,000, an increase of 11,000 from the previous week's revised figure of 417,000. The 4-week moving average was 419,500, an increase of 4,000 from the previous week's revised average of 415,500.
Oh look, it's going up again! What do we blame this time? I'm sure we can find something..... (How about "Your policies suck Mr. President and Congress?")
There's nothing worthwhile in the extended claims data - the total dropped by 25,000 in the August 27th week, but the increases the last couple of weeks are not yet in these numbers. They will be, but not until we get right up against the employment report for September.
Note that with the claims numbers we're seeing and the trend direction the risk of a negative September NFP report is climbing fast. If you're wondering what's feeding the panic level in Obama's White House with his "jobs" bill look no further than this series.
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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