Initial Jobless Claims Inline With Estimates

Weekly initial jobless claims were inline with forecasts today, coming in at 370K from last week's revised reading of 372K.

Given the lower readings of the last few weeks, the four-week moving average is now also down to 370K, which is the lowest level since April 6th.

Finally, on a non-seasonally adjusted basis, jobless claims actually saw a slight increase, rising from 325K to 328K, which is still below the 346K average for this week going back to 2000.

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