After the precipitous fall last week initial claims had nowhere to go but up for the week ending November 27th, according to the latest date from the Department of Labor…(DOL)
- Initial claims were 222,000, an increase of 28,000 from the previous week’s revised level
- Economists had projected a bigger jump to 240k.
Continuing claims fell more than expected for the week ending November 20th…
- Continuing claims were 1,956,000, a decrease of 107,000 from the previous week’s revised level.
- Economists had projected a smaller drop to 2.0M.
Daniel Zhao noted on Twitter, “End of year seasonality is likely to make claims data volatile, but claims are still trending downward overall.”
