Weekly jobless claims edge lower

Weekly initial jobless claims fell 14,000 in the latest week to 418,000, while the 4-week moving average dropped by 3,000 to 424,750. Continuing claims were down 43,000 to 3.68 million.



There has been little change in the rate of jobless claims, which have been holding at an elevated level above 400,000 since April.

In one sense, the recent plateau has been mildly encouraging since this leading indicator of economic activity is not signaling the recovery is about to stall.

However, it’s not suggesting a more vibrant economy is on the horizon either.