The second act in this week's trio of jobs reports was a good one. According to the Department of Labor, initial claims for unemployment fell by 18,000 last week to 324,000. This was much better than expected and marks the lowest level since January of 2008.
Meanwhile, the 4-week moving average declined by 16,000 to 342,250. That is just a little bit above the low for 2013, as you can see in this chart from Calculated Risk Blog:
This follows Wednesday's disappointing report from ADP that showed the economy added just +119K private-sector jobs in April.
So what's your guess for tomorrow's Employment Situation Report from the Bureau of Labor Statistics?
The consensus range is between 135K and 155K jobs added. Do you think the report will come in above, below or within this range? Post your response below.
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