Initial jobless claims fell 41K in the latest week from an upwardly revised 451K down to 410K. There really is not much to say about these numbers except that they are still being skewed by the impact of Hurricane Sandy. Although for those who have doubts regarding the economy's momentum, this week's reading doesn't help. For the optimists out there, we would note that in the two weeks after Hurricane Katrina, initial claims rose by 98K. Post Sandy, the maximum increase in claims has been just 90K. Continue reading.
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