Initial Claims Were Bad – Misleading Headlines on Continuing Claims

August 5, 2010

Approaching the next few days, we are definitely leaning toward disappointing numbers from the labor reports. Thursday was up first with the initial claims and the there was a higher than expected level of claims, but continuing claims fell slightly. Again, the latter number appears to be due to benefits ending, rather than employment levels getting better.

  • Initial Claims 479K vs 455K consensus, prior revised to 460K from 457K
  • Continuing Claims falls to 4.537 mln from 4.571 mln

As mentioned, there was a disappointing employment number that Read more