US initial jobless claims 231K vs 240K expected

• Prior 263K (revised to 264K)
• Continuing claims 1920K vs 1950K expected
• Prior 1939K (revised to 1927K)

The data is better than expected across the board and continuing claims seem now on a downward trend. Last week, we got a spike in initial claims but it was later reported that they were negatively affected by a big spike in Texas and those filings were fraudulent.

The prior number for initial claims was supposed to be revised lower but it got revised a tick higher. Anyway, what’s important is that jobless claims are still solid and continuing claims are improving.

This article was written by Giuseppe Dellamotta at investinglive.com.