Jobless Claims in US Unexpectedly Decline to a Six-Week Low
Bloomberg The number of Americans who filed for unemployment benefits declined to a six-week low, showing further improvement in the labor market. First-time jobless claims unexpectedly fell by 7,000 to 340,000 in the week ended March 2, the lowest since the period … Jobless Claims Fall as Labor Recovery Grinds OnWall Street Journal US jobless claims unexpectedly fall, signal labor market gainsReuters |
Well, they’ve done it again. The Wall Street economic forecasting crowd persistently underestimates both the drop in jobless claims and the growth in employment. Tomorrow’s payrolls report should be no exception. I guess they pay no attention to surging withholding tax collections. The smoothed 4 week average is now up 9% in real terms, with only about 4% of that accountable to the increase in tax rates.
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Read First Time Claims Decline Right On Trend But Will Street Economists Are Fooled Again.
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