Market Overview

Initial Unemployment Claims: 393K SA, 437K NSA; NSA Year-Over-Year Drop Only 6%

From the Department of Labor:

SEASONALLY ADJUSTED DATA

In the week ending November 19, the advance figure for seasonally adjusted initial claims was 393,000, an increase of 2,000 from the previous week's revised figure of 391,000. The 4-week moving average was 394,250, a decrease of 3,250 from the previous week's revised average of 397,500.

… UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 437,049 in the week ending November 19, an increase of 74,214 from the previous week. There were 464,817 initial claims in the comparable week in 2010.

Business Insider's email expected 390K, as did Bloomberg, as did Reuters.

So instead of stuck at 400,000, we're stuck in the 390s (really the mid-390s, if the typical upward revision happens next week), and the not seasonally adjusted drop from the same week a year ago was only 6%. That's not impressive.

Understatement of the day, at Bloomberg: Today's report is “a sign that the labor market is taking time to gain traction.” Yeah, about 3-1/2 years, the amount of time the nation has been enduring the POR (Pelosi-Obama-Reid) Economy.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

 

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