In the week ending Nov. 27, the advance figure for seasonally adjusted initial claims was 436,000, an increase of 26,000 from the previous week's revised figure of 410,000. The 4-week moving average was 431,000, a decrease of 5,750 from the previous week's revised average of 436,750.
Oh wait - the 410k was an aberration? Well yeah.
But the news is down here of course...
That reversed out the losses last week with some interest, but realize that this is going to get a lot worse in the next couple of weeks if there is no extension in Congress, as basically all of the extended benefits from the Federal Government have now expired.
Tomorrow is the big monthly jobs report and we'll be watching it closely on the household side - I expect some pop from seasonal hiring - but whether there's enough there to move my needle is an open question.
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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