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Claims post healthy drop, is it temporary?
Initial claims surprised to the upside, falling 26,000 to 359,000 (Consensus and Decision Economics: -7,000) for the week ending September 22 from a prior week which was revised upward by 3,000. This week’s print is the lowest since July 21. As a result, the four-week average fell 4,500 to 374,000-well within the range of 365,000 to 385,000 seen in Q3.