Initial Jobless Claims Unexpectedly Rise Again



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It’s Thursday and you know what that means. Initial jobless claims jumped to 352,000. As usual it was very unexpected.

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The number of people who filed for unemployment assistance in the U.S. rose more-than-expected last week, official data showed on Thursday.

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In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending April 13 rose by 4,000 to a seasonally adjusted 352,000, compared to expectations for an increase of 2,000 to 350,000.

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Jobless claims for the preceding week were revised up to 348,000 from a previously reported increase of 346,000.
(Read More)

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Oh, and then there is this:

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The DOL also added that two states’ claims were estimated in the past week: of course, if these were California and Illinois, one would imagine reality to be quite different than what is reported but who really cares about reality any more. (Read More)

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Well, we all know that nobody in government gives a hoot about reality.