Reply #12: BS. Become informed

[ProSense]

Continued claims increased to a record 6.88 million.

The four-week average of weekly unemployment claims decreased this week by 10,000, and is now 52,750 below the peak of 13 weeks ago. It appears that initial weekly claims have peaked for this cycle.

However the level of initial claims (over 600 thousand 4-week average) is still very high, indicating significant weakness in the job market.

As a reminder, when looking at this report, I'd focus on the 4-week moving average of initial claims, not continued claims.

link

It's not a magic report, it's reality: the economy is still weak, but things are moving slowly in the right direction.