Department of Labor:
In the week ending
September 1, the advance figure for seasonally adjusted initial claims was
365,000, a decrease of 12,000 from the previous week's revised figure of
377,000. The 4-week moving average was 371,250, an increase of 250 from the
previous week's revised average of 371,000.
Understand that this number,
365,000 will be adjusted upward with next week’s report. The adjustment will be somewhere between
3,000 to 5,000.
Conclusion: this morning's report is typical to all such reports over the course of the past six months. With this report, there is no reason to believe tommorow's monthly unemployment will drop from its current 8.3% declaration. In fact, there is fear that this number might increase. We will know in just 24 hours.
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