The Campaign Spot

Tough to Be Reassured by Initial Unemployment Numbers

Today’s “good news” on the economic front is that continued claims for unemployment insurance “slipped” to 6.687 million.
The offsetting bad news is that new jobless claims rose to 608,000.
Last week, we were told the seasonally adjusted initial claims for unemployment insurance was 601,000, and we were told the continued claims increased to 6.82 million.

But those were the initial numbers, and they get revised. The revised figure is that continued claims were 6.835 million (15,000 higher) and the figure for initial claims was 605,000 (4,000 higher).
In other words, if this week’s figures get revised the way last week’s figures did, the very modest improvement will look even more modest, and the bad news will look a little worse.

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