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Ho hum. Here we are once again. The weekly report of Initial Unemployment Claims is out, jobless claims for last week are up "more than expected," the figures from last week's report have been revised upwards again, economists are surprised and water is wet. Via Reuters:
New claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, suggesting little improvement in the labor market this month after employment stumbled in May.For what it's worth, I called last week that the numbers would most likely be revised upwards to 420K:
Initial claims for state unemployment benefits climbed 9,000 to a seasonally adjusted 429,000, the Labor Department said. The prior week's figure was revised up to 420,000.
Economists polled by Reuters had forecast claims to edge up to 415,000 from a previously reported count of 414,000.
