Analysts had expected 384K on the initial jobless claims. Instead they fell to 352K.
The key thing here is that this reverses a few bad weeks. Last week’s revised number was 402K, and it’s a big cause for relief that we didn’t get another +400K number.
The market will like this.
The full announcement is here.
For some more perspective, here’s a look at initial claims since 2007. Though not updated for today’s drop, you can see that this number is obviously the best since early 2008.
ORIGINAL POST: There’s a ton of data coming out today.
The most closely watched will be initial jobless claims, due to the fact that it’s been ticking up lately.
Analysts expect initial claims of 384K, down from 399K last week.
We’ll have the number here LIVE.