Weekly jobless claims declined last week by a modest 12,000. The four week average, which aims to smooth weekly volatility, declined by 8,750. Given the huge number of jobs in the U.S., I would consider this to be flat job market performance. This is slightly disappointing. The last thing to improve in the economy will be the addition of thousands of new jobs. So what this 4-week average jobless claims number means is that we still have a long way to go in order to restore full health to the economy.
Jason
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