Jobless Claims Jump In Worst Streak Since Pandemic Onset

362,000 Americans filed for unemployment benefits last week, more than expected. Economists were looking for 330,000 on the headline initial claims print. The range was 300,000 to 350,000. The four-week moving average is now rising. It sits at 340,000 (figure below). This is unwelcome news, although nothing that should set off any alarm bells, per se. Bloomberg described the jump, which was led by California, as "reflecting choppiness in weekly data." Although claims are still near pandemi

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