Claims Make Big Jump

Yesterday Gallup reported it saw a jump in the unemployment rate in the last month. Today, the jobless claims number rose 13,000 to 330,000. This was 6,000 more than the “expected” number.

ZeroHedge reports, “This was the highest claims number since July 19, the biggest miss to expectations and also the largest weekly jump in 6 weeks. Notably, the entire move was due to seasonal adjustments: the unadjusted claims number declined even more, dropping from 283K to 279K…Continuing claims were also worse than expected at 2999K, up from 2970K, and missing expectations of 2963K.”

Anyone still sold on the recession has ended meme?

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