The level of US unemployment claims has been very stable of late: around 350K to 365K. This narrow range was broken now with a rise to 380K.
While this level is far from justifying more monetary stimulus, there is some fear it could turn into a trend, with serious implications for QE3 and for the identity of the resident at the White House.
Market expectations stood on a drop from 357K (initially reported last month) to 355K this time. The big disappointment is from the leap to 380K. But also last month’s figure wasn’t that good: it was revised to the upside, from 357K to 367K, also a bit higher than what we’ve seen in recent months.
Read the rest of the article [I][URL="http://www.forexcrunch.com/worrying-rise-in-us-jobless-claims-one-time-event-or-a-trend/"]Worrying Rise in US Jobless Claims – One Time Event or a Trend?[/URL][/I]
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