From Pine View Farm

Nothing To Do, Nowhere To Go 1

Under 300k for the first time since I started following them here.

Jobless claims dropped by 24,000 to 297,000 in the week ended May 10, less than any economist projected in a Bloomberg survey and the least since May 2007, figures from the Labor Department showed today in Washington. The median estimate of 49 economists surveyed was 320,000.


The four-week average of claims, a less-volatile measure than the weekly figure, dropped to 323,250 from 325,250 the week before.

The number of people continuing to collect benefits declined by 9,000 to 2.67 million in the week ended May 3, the fewest since December 2007.

Unchanged: The track record of Bloomberg’s “experts,” who couldn’t pick the winner in a one-horse race.


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