Initial claims came in disappointingly high at 474k versus 455k estimated. But, the continuing claims dropped to 5175k and that is over 300k better than estimated. That shows that there is still a great deal of layoffs occurring. The continuing claims can be looked at two different ways:
Either more people are finding jobs, or more people are running out of benefits. The jury is still out…
Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.