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28 Feb 2013
Forex: Claims beneath 350,000 means a lower unemployment rate ahead - Miller Tabak
Jobless claims fell by 22K to 344K in the Feb 24 week, more than the 6K decline expected to 360K from previous week figures of 366K. The Key 4-week moving average eased by 6K to 355K. At the same time, Continuing Jobless claims declined to 3.074.000 in the Feb 17 week, the lowest since June 2008.
With a jobless claims figures improving every week, Miller Tabak's Chief Economic Strategist Andrew Wilkinson points that a consolidation below the 350K number in initial jobless claims would mean a lower unemployment rate. "We continue to push the fact that weekly claims, and therefore the key four-week average, is slipping to where we expect."
"Beneath 350,000," Wilkinson concluded, "means a lower unemployment rate ahead."
With a jobless claims figures improving every week, Miller Tabak's Chief Economic Strategist Andrew Wilkinson points that a consolidation below the 350K number in initial jobless claims would mean a lower unemployment rate. "We continue to push the fact that weekly claims, and therefore the key four-week average, is slipping to where we expect."
"Beneath 350,000," Wilkinson concluded, "means a lower unemployment rate ahead."