Initial claims have come in now 3 straight weeks and 6 out of the last 7 weeks under 400k. This is remarkable considering the employment situation that we are currently facing. It is important to see that we are making a marked improvement as the trend (4-Week Moving Average) has dropped well below 400k and continues its downward slope.
We must take this with a grain of salt however as during the holiday season, hiring tends to pick up and firings tend to slow down. No company, no matter how much they are suffering can find it in their best interest to lay off employees over the holidays.