Initial Jobless Claims Surge Most Since June

Jon Alternative Media, Blogosphere, Market Commentary

For the 2nd week in a row, initial claims missed expectations and on the heels of last week’s dismal payrolls data (which was “unbelievable” according to the smartest people in the room) it surged to 315k – the highest since June. Perhaps most critically, on both an adjusted and unadjusted basis, initial claims are highher year-over-year (SA 315k vs 307k, NSA 234k vs 229k respectively). Is this noise? It has been 7 weeks now from the mid-July lows… and the 4-week-average many look at, has risen for 4 of the last 5 weeks.
Trend change?

This post was published at Zero Hedge on 09/11/2014.