Once again, jobless claims came in “unexpectedly” more than forecast. They were looking for 415,000 and got 429,000. Last week’s 414,000 was raised to 420,000 during the week.
This marks the 11th week of claims higher than 400,000. No state had a decline of more than 1,000 claims; 13 had more than 1,000. Pennsylvania and California lost the most.
Looks like this bump in the road is getting to be a boulder in the road. Debt exploding, home values decreasing and more people unemployed – not good.