Finally, An Important Piece Of Important Economic Data Is Coming Out Today

There’s been virtually no US economic data to come out so far this week, which is really a bummer since after Friday’s jobs report we’re desperate for insight into how the economy is doing.

That changes today, as we get initial claims.

Per Bill McBride, analysts expect to see 365K initial jobless claims, down from 385K last week.

This is one of our favourite high-frequency datapoints, giving us a pretty nice look at the state of the economy weak to weak.

Here’s a chart going back to 2007. You can see the recent spike.

FRED

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