Doubts Spread About Jobless Data, As Government Admits To Estimating Claims In Several States

Shadow Silhouette

The initial jobless claims data was strong(er than expected), but there’s a lot of chatter this morning about a note form Bloomberg:

For the latest reporting week, nine states didn’t file claims data to the labour Department in Washington because of the federal holiday earlier this week, a labour Department official told reporters. As a result, California and Virginia estimated their figures and the U.S. government estimated the other seven, the official said.

It seems weird this was only conveyed to reporters, and not included in the report.

That being said, the market still seems to really like the data. Stocks are up around 0.9% across the board.

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