In addition to this week’s lower than expected print in jobless claims, continuing claims were even more impressive. In this week’s report, continuing claims came in at 1.918 million, which was not only well below the consensus expectation of 1.980 million, but it was also the lowest weekly reading in this indicator of the current economic expansion. In fact, the only other time since 1973 where continuing claims were lower was in the first week of November 1988. Someday, both initial and continuing claims will start trending higher again, but until they do, it is a bullish sign for the market and economy.
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