Jobless Claims Resume Downtrend

After last week's sharp increase in initial jobless claims, there were concerns that the report, coupled with the much weaker than expected Consumer Confidence number, was signalling another leg lower in economic activity.  This week, however, jobless claims more than reversed last week's 24K increase and declined by 29K.  With the decline, the downtrend in jobless claims (on a weekly and four-week moving average basis) remains intact.  Not only have jobless claims declined, but February same store sales reports from most retailers have also surprised to the upside.  Weren't last month's snowstorms supposed to have an adverse impact on sales and economic activity? 

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Comments

[Dave]

Assigning a trend line to jobless claims data...incredible. As if jobless claims would obey support or resistance lines. Shame on you!

You should stick to your core competency: crunching data and presenting it in a clear, concise, understand-at-a-glance chart.

[halin]

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