Initial Jobless Claims WORSE Than Expectations At 429K, Last Week Revised Higher

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Background: You know the drill here. Analysts are looking for initial jobless claims of 415K, basically flat from last week’s 414K. It’s been a while since there was a sub-400K reading. The number will be out momentarily.

The number is out, and they’re not pretty. Up to 429K from a revised 420K last week.

So much for the nascent re-recovery?

Dow futures are off 87 following the news.

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