Perhaps a bit of sunshine: Under half a mil for the first in a month of Sundays.
It was the fourth consecutive week of declines in seasonally adjusted claims, and marked a steady march lower from a recent peak of 674,000 in late March. Analysts say claims must fall below 400,000 to signal payrolls growth, which would be a critical indicator of recovery from the worst recession since the 1930s.
Analysts polled by Reuters were expecting a more modest slip to 500,000 claims from the previously reported 505,000.
Aside: Reuters analysts continue their sterling record. Next time I go to the track, I won’t be asking them to help me pick the exacta.