In the week ending July 16, the advance figure for seasonally adjusted (SA) initial claims was 418,000, an increase of 10,000 from the previous week's revised figure of 408,000. The 4-week moving average was 421,250, a decrease of 2,750 from the previous week's revised average of 424,000.
… The advance number of actual initial claims under state programs, unadjusted (not seasonally adjusted, or NSA), totaled 464,865 in the week ending July 16, a decrease of 9,022 from the previous week. There were 502,065 initial claims in the comparable week in 2010.
Business Insider's email this morning said that expectations were for an initial SA number of 415K. (Update: Steve notes in the comments that others had expectations from 403K to 410K. Update 2: Another “Unexpectedly” sighting, this time at the Wall Street Journal [HT Instapundit], where expectations were for 405K. These two updates would appear to indicate that Business Insider was talking to astute economic observers, while most the of the press appears to have been talking to drones and apparatchiks.)
Here's the going-nowhere table:
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The situation is not improving.
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