“Initial claims fell to 386,000 in the week ended Aug. 16, down 17,000 from an upwardly revised 403,000 in the prior week and below analysts’ expectations for 395,000 claims.
The running four-week average, which is viewed as a better gauge of the labor market because it smoothes volatility, was below the key 400,000 mark for the third week in a row. “
Good news. At least, until they are revised upward above 400,000 next week. Even so, we’ll still hear that next week is the 4th week in a row below 400,000.