Last Update: 28-Mar-13 09:55 ET
Initial Claims Back in Familiar Territory
Initial claims increased by 16,000 to 357,000 for the week ending March 23 (Briefing.com consensus 338,000). Initial claims had fallen below 350,000 for four weeks straight, so the latest number tips things back into the 350,000-400,000 zone where claims had been for most of the last year. We'll have to see if this is a return to prior form when next week's number is released. For the moment, we aren't going to read too much into it as a sign of weakening labor conditions. It doesn't appear as if the market is either since the S&P futures saw little change after its release. As an aside, the Department of Labor said this week's release reflects the annual revision to the weekly unemployment claims seasonal adjustment factors. Continuing claims for the week ending March 16 decreased 27,000 to 3.05 mln (Briefing.com consensus 3.04 mln).
Initial claims increased by 16,000 to 357,000 for the week ending March 23 (Briefing.com consensus 338,000). Initial claims had fallen below 350,000