Initial claims data this morning showed a marginally better picture than economists forecast, with first time jobless claims falling 12,000 week-on-week (albeit on higher revisions to the previous week’s data).
While that’s good news for the economy, the headline 378,000 rate is still above the 350,000 many economists say is endemic of a healthy job front.
BI decided to look at the relatively stagnant jobless picture over the past three years. What we noticed—increases at the end of March and April that began to decline towards the back half of the year.
And the second chart is a look at claims over the past three years.
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