DATA REACT: Nomura on weekly claims – “The steady drip lower in claims
over the last three weeks is an encouraging sign, but only partially
reverses increases over the preceding month. Claims remain above the
low of 432k reached in late December. More broadly, we continue to
believe the current level of claims is quite high, and believe further
declines would be necessary before we see strong private sector job
growth…The total number of jobless benefit recipients (continuing
claims plus the extended benefit rolls) has been roughly unchanged
since the start of the year.”