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Blue Line 4 Week Average
The market was expecting the weekly initial unemployment claims at 290,000 to 305,000 (consensus 300,000) vs the 320,000 reported. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 294,500 (reported last week as 294,500) to 304,750. The rolling averages have been equal to or under 300,000 for most of the last 6 months, but this week exceeded this number.