(March 27, 2008) – Like Randy says on American Idol, this number is just OK for me, Dog. Just not a memorable number. The Department of Labor reported in its Initial Claims Report, announcing that in the week ending March 22, the advance figure for seasonally adjusted initial claims was 366,000, a decrease of 9,000 from the previous week’s revised figure of 375,000. The 4-week moving average was 358,000, an increase of 1,750 from the previous week’s revised average of 356,250.
This week’s number is further support for the view that we are stuck in a range of low but positive growth. Bet this goes on for a while.