Dollars and Jens
Thursday, July 09, 2009
initial claims
Seasonally adjusted initial claims was 565,000 last week. Note possible holiday effect and imperfect "seasonal adjustment". Still, good news.

Moving three-week exponential average:

smoothed initial claims

High by the standard of an average point in the business cycle, but looks like a confirmed downtrend. The calendar issue makes next week's release more interesting.


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