Initial Jobless Claims Missed Expectations, But There Was A Problem With The Data

The Department of Labour’s latest tally of weekly initial unemployment claims is out.

Claims fell by 15,000 to 358,000. However, this was higher than the 335,000 expected by economists.

However, it appears that technical glitches touched the number this week.

“Applications in California remained elevated an the total also included some non-federal workers dismissed due to the gridlock in Washington,” reported Bloomberg citing a Labour Department spokesman.

Last week, the Labour Department said around half of the then 66,000 increase in claims was due to technical issues, which continue to be worked out.

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