There’s a bit of good news on the economic front as the latest report from the Bureau of Labor Statistics shows a decline in initial unemployment claims to 385,000, a drop of 16,000 from the previous week. The 4 week average is now 386,250, a drop of 7,000.
From the Calculated Risk blog:
This is the 3rd consecutive week with the 4-week average below the 400,000 level, and although there is nothing magical about 400,000, this is a positive step for the labor market.
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