US Jobless Claims Fall to Lowest in Four Weeks

We're getting just the preliminary numbers coming in and we're surprised again. 192,000 jobless claims. That's a little bit weird given the situation. Was forecast come in 200,000. You mentioned that before the break. Last week was 194,000. I'm waiting to see what the revisions are for that.

GDP has been revised as it always is. This is the second revision. 9% was the forecast and that was the original release. Now it drops to 2.7 as we lose some personal consumption. Now 1.4%, apparently Americans spent less than we thought they did in the first quarter.

2.1% was the original release there. We do get the quarterly PCE price index, which is up 4.3%. It's up from the initial release of 3.9, which does not serve us well for tomorrow. Initial claims have not, I don't have the update in terms of, oh, here we go.

It was only raised 1,000. So we are in a situation with jobless claims. We're at 192,000 for last week, the week before, 195,000. The forecast was for 200,000 and nobody's filing for jobless claims at this point. The continuing claims number, 1,654, is down from 1,691, so the labor market remains strong. The Fed noted that yesterday and it does look like inflation may have picked up a little bit more in the fourth quarter than we had thought.

Bloomberg