Down somewhat, but still oscillating in the same general area:
Applications for jobless benefits decreased by 35,000 in the week ended July 21 to 353,000, Labor Department figures showed today. Economists forecast 380,000 claims, according to the median estimate in a Bloomberg News survey. Changes in the annual auto plant shutdowns that occur this time of year have made it difficult to adjust the data for seasonal variations, the Labor Department has said.
The volatility may last one more week, a Labor Department spokesman said as the figures were released to the press. The four-week moving average, a less-volatile measure of jobless claims, fell to 367,250, the lowest since March, from 376,000.
The number of people continuing to collect jobless benefits shrank by 30,000 in the week ended July 14 to 3.29 million.
Bloomberg’s experts still
not able to pick the ponies irrelevant unless you’re running their numbers.