The Labor Department has just released its figure for weekly jobless claims. The figure came in at 505,000 in the last week, exactly in-line with the Bloomberg consensus data. This is also exactly the same as the revised figure from a week ago, which was revised from 502,000. The four-week moving average fell by a figure of 6,500 to 514,000, which is the lowest figure in roughly a year. The rest of the data is still less-bad, but far from good.
The largest number is the army of unemployed via the continuing jobless claims and that figure fell by 39,000 jobs on a revised basis to 5,611,000.
The good news is that these figures are no longer growing. The bad news is that these figures still have to get down closer to 400,000 for unemployment to not keep growing.
JON C. OGG
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