Jul 09
Initial claims for unemployment dropped by a much bigger than expected 52,000 in the last week to 565,000, the lowest level so far this year. This brought the four-week average down by 10,000 to 606,000. Without a doubt this is good news, but before we break out the bubbly, remember that this was a holiday-shortened week. I would wait at least another week to see if this looks real. Still, the four-week average is now a full quarter past its peak and 52,750 below it. Historically, peaks in
