New Jobless Claims Still Stubbornly High

pinkslip tbi

A slight improvement in the jobs picture, but still very little for econ bulls to hang their hat on:

MarketWatch: The number of people filing for state unemployment benefits for the first time fell 12,000 to a seasonally adjusted 545,000 last week, the lowest since mid-July, the U.S. labour Department reported Thursday.

Initial claims have been in a fairly narrow range for the past nine weeks, down about 125,000 from the peak in March, but well above levels typical of a healthy economy.

The number is modestly better than expectations of 563,000, but we’re still talking about the same ballpark.

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