For the week that ended July 19, initial claims increased by 34,000 to stand at 406,000, the Labor Department said. It was the highest level of initial claims seen since the week ended March 29.
The four-week moving average of new claims, meanwhile, rose by 4,500, reaching 382,500. The four-week average is sometimes considered a better indicator because it smoothes out distortions such as weather-related events and labor strikes
Are they kidding us with this 4 week average? There are no unions to strike, they are getting their asses kicked in manufacturing and there has been great weather for awhile now. When will Wall street take a stroll down main street and see that it's plain busted?