Lat week's numbers revised up 1,000, to 341,000.
New jobless claims up 20,000 and thus we get back up to 362,000.
So, if the first talking head on CNBC says "not to worry," I can't wait to see how Reuters and/or Bloomberg spins this.
Remember: the magic number is 400,000
Talking head: QE5 right around the corner. The Fed minutes yesterday were a classic head fake. So, we'll see.
Reuters spin:
The number of Americans filing new claims for unemployment benefits rose more than expected last week, but still remained at levels consistent with a steady improvement in labor market conditions.
Initial claims for state unemployment benefits increased 20,000 to a seasonally adjusted 362,000, the Labor Department said on Thursday. The prior week's claims figure was revised to show 1,000 more applications received than previously reported.
Economists polled by Reuters had expected first-time applications to rise to 355,000. The increase in claims last week pushed them toward the upper end of their range for this year.
A blizzard that hit the East Coast late in the first week of February could have exaggerated the drop in claims for the week ended February 9.Yep, the old blizzard excuse.
And, of course, boiler plate continues:
The four-week moving average for new claims, a better measure of labor market trends, increased 8,000 to 360,750.
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