On Mar/10 the important Unemployment Claims result exceeded expectations - more claimants. Did this indicate a reversal as many feared, an end to improvement in employment?
We told our clients that day not to worry, that this was a fluke, not trend and that employment figures would exceed expectations over the near term. We provided an anchor.
Result? Two of the subsequent Claims numbers were lower than expected, one at expectations, so that worked well. Even more importantly, the Mar Payroll result of Apr/1 was better than expected.
Finally, today’s Claims figure also cooperated, coming in a tad below consensus (fewer claimants than expected).
This ends this exercise. Results were satisfactory, allowing our clients to anticipate price change.
Robert Craven
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