Jobless claims rise more than expected last week

New claims for jobless benefits climbed more steeply than anticipated last week, the latest sign that the moribund labor market is struggling to recover.

Initial claims for state unemployment benefits rose 37,000 to a seasonally adjusted 464,000 in the week ended July 17, the Labor Department said on Thursday, more than erasing a decline in the prior week.

Follow trends within the cycles and eliminate the headline need to view the world as static point deviations from consensus expectations. The employment situation today is no more important than it was in the 1930. Remember, the stock market bottomed and turned long before the labor market in the Great Depression.

Average Weekly Initial Claims State Unemployment (AWIC) And YOY Change:


Average Continuing Claims State Unemployment (AWIC) And YOY Change:


Source: yahoo.com