Jobless Claims

Remember that headline that showed jobless claims down for the last week -- they are "seasonally adjusted".

Claims fell from 586k the week before to 492k - a real drop.

But - but - but --- the raw numbers (Not Seasonally Adjusted - NSA)are rather different: initial claims are 507k, 629k, 716k, and for this week, 718k….

That's an increase of 211,000 in 4 weeks.

Oh well!