We got another drop in the weekly jobless claims in this last week from the U.S. Labor Department but the move is not going to be enough considering that the move was small and largely in-line with estimates.
The weekly jobless claims fell by roughly 10,000 to 382,000 for the week. Bloomberg had estimates of 385,000 for the week.
The four-week average fell 5,750 to 389,500. The army of unemployed measured by the continuing jobless claims fell by 9,000 to 3.72 million.
These employment figures keep getting mildly better and the good news is that the old 400,000 hurdle seems to not be the new norm. Unfortunately these levels are not yet enough to really help the overall labor situation.
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We got another drop in the weekly jobless claims in this last week from the U.S. Labor Department but the move is not going to be enough considering that the move was small and largely in-line with estimates.
