Preliminary Jobless Claims Rise After Massachusetts Fraud Revisions
Preliminary jobless claims ‘confused’ final week, printing 229k (properly beneath the 245k exp and the 242k prior). BUT, and it is a large however, Massachusetts – after admitting to widespread fraud – has revised its final three months jobless claims knowledge decrease by a median of 14k per week.
The result’s that claims really ROSE final week from a revised decrease 225k to 229k…
Supply: Bloomberg
The final two weeks noticed the headline claims revised down 50k jobs (-33k and -17k respectively)
We word that for the second week in a row, MA noticed a giant decline in claims…
Moreover, Persevering with claims continued to pattern again beneath 1.8mm.
As soon as once more, can we actually belief this knowledge?
Tyler Durden
Thu, 05/25/2023 – 08:40