Alright, that’s looking pretty good.
404K is well better than expectations of 425K, and a big drop from 445K, which was actually revised down to 441K.
Stocks are ticking up just a little bit on the news.
Background: Prior to the new year we got our first sub-400K reading on ages on the initial jobless claims number. Since then it’s spiked back up, threatening to take away the momentum on this front.
Today analysts are looking for 425K, down from 445K.
Here’s a one-year chart of claims just to give a sense of how things are going.