Initial jobless claims are unstoppable

pink slip jobless claims fired

(TBI)

Initial jobless claims rose less than expected last week to 267,000.

Expectations were for the report to show claims totaled 270,000 last week, up from the prior week's 255,000 print, which was the lowest in over 40 years.

The 4-week moving average of claims also fell this week, to 274,750 from 278,000.

In a note to clients on Thursday, Steve Englander at Citi said anything under 275,000 today would supportive of a sooner rather than later rate hike; anything above 285,000 would be seen as "soft."

Following Thursday's report, Derek Lindsey at BNP Paribas said the report, "continues to point to labor market improvement."

Here's the chart of initial jobless claims, which as Bloomberg's Joe Weisenthal notes, have simple been relentless.

Initial claims is just relentless pic.twitter.com/LEEx25SOYi

— Joseph Weisenthal (@TheStalwart) July 30, 2015

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