Courtesy of ZeroHedge. View original post here.
Submitted by Tyler Durden.
Despite the last 2 weeks of ‘systems upgrades’ being responsible for lower-than-expected jobless claims data, the smart analysts and strategists had lower expectations to 325k – the lowest in 6 years – and sure enough claims beats expectations and prints 305k (for the 4th week in a row – 2 of them with broken systems).
This is a drop of 5k from last month’s entirely made-up data as we note that once California (among the biggest contributors to the claims data) has caught up with its backlog – so theoretically this is a ‘real’ data point.
Continuing claims ticked up by the most in 2 months.