Clean Data Says Jobless Claims Fall to 550k
Labor data in the week ending August 1 offer the first unambiguous glimpse of a slowdown in the decline of the labor market. Initial claims fell 38k from the previous week to 550,000, pushing the 4-week average to 555,250.
The number of initial claims reached as low as 524k in the week ending July 11, but that data was unreliable, polluted as it was by seasonal issues. This week’s data is clean â€
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