400,000 is supposed to be the magic number for “new jobless claims.” New Jobless Claims the number that comes out on Thursdays, telling how many people filed new unemployment claims the prior week. 400,000 is a “rule of thumb number.” They say if the number is above 400,000, the jobs situation is getting worse. Under 400,000 they say it’s getting better. In other words, if the economy is not gaining or shedding jobs roughly 400,000 people are expected to lose their jobs and 400,000 other people will find new jobs every week.
So it turns out the magin number is really 357,000.