370K is nicely below expectations and last week. Analysts had expected 380K. Last week was 395K.
Key thing is that the Sandy effect is wearing off, and we’re returning to the downtrend.
Earlier: One of our favourite economic indicators is initial jobless claims.
They come out at 8:30 AM ET, and analysts expect 380K, down from 393K.
We’ll have the number here LIVE.