The U.S. Labor Department has
released, yet again, another somewhat disappointing reading for weekly
jobless claims. Initial claims rose by a sharp 7,000 to a seasonally
adjusted reading of 320,000. Bloomberg was calling for a consensus
reading of 300,000 claims for the week ending February 27. The previous
reading was 313,000.
What
stands out here is that this jump in weekly jobless claims was higher
than every single expectation of the economists that had been polled. It
is also worth noting that this is the single highest reading since May
of 2014.
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