SMF Traders ECONX Initial Claims Stabilize

Weekly initial claims for the week ended August 23 fell 10K to 425K. The 4-week moving average, meanwhile, dipped to 440,250 from 446,250.

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This is relatively good news given the negative surprises seen of late, however the numbers reman consistent with a soft labor market and won't alter expectations that we'll see another modest decline in nonfarm payrolls for August.

Continuing claims rose to 3.423 million from 3.359 million.

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Posted: 8/28/2008 10:25:40 AM by Global Administrator | with 0 comments

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