As I mentioned was a likely scenario in my US Economic Week Ahead, jobless claims fell 47K to 522K. As with last week, early auto company layoffs have likely distorted the index due to misaligned seasonal adjustments. I do believe we should continue to see an improvement in jobless claims, but the levels seen over […]
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initial claims
Initial Claims finished came in this morning at 565K versus the previous week’s reading of 614K and a consensus forecast of 610K. I believe the improvement may have been exaggerated by inaccurate seasonal adjustment factors stemming from the timing of automotive and other manufacturing lay-offs, which could be repeated next week. Although, I do believe […]
Despite the shortened work week, we have a rather busy schedule of US economic data releases, climaxing with Thursday’s US employment data. Last month’s payroll data caught the market by surprise coming in well above expectations, demonstrating the lowest level of job losses since September 2008. But, the big question remains, was this start of […]