The first-time claims number comes in as … well, not so good. This is typical if not predictable. As Reuters reports:
Initial claims for state unemployment benefits fell 12,000 to a seasonally adjusted 350,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 4,000 more applications filed than previously reported. Economists polled by Reuters had expected first-time applications to fall to 340,000 last week.
But that is not the end of the story. Seems the numbers may not be entirely reliable thanks to a computer “glitch.” In, of all places, California where they make – or at least design – the damned things.
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