A report from the Labor Department showed new claims for unemployment benefits unexpectedly fell 21,000 to a seasonally adjusted 530,000 last week. Analysts polled by Reuters had expected initial claims to rise to 550,000.
530,000 + 21,000=551,000, or it used to in my day.
Interestingly, the initial figure reported for last week was 545,000.
Reuters’s analysts also blew it last week guessing high. Who are they anyway?
Home sales also dropped.