It’s Thursday and you know what that means. Initial jobless claims jumped to 352,000. As usual it was very unexpected.
The number of people who filed for unemployment assistance in the U.S. rose more-than-expected last week, official data showed on Thursday.
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.
Jobless claims for the preceding week were revised up to 348,000 from a previously reported increase of 346,000.
Oh, and then there is this:
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)
Well, we all know that nobody in government gives a hoot about reality.