Unemployment Claims Fail to Move Markets

About as expected! However, the trend appears to have turned modestly lower, since this is the fourth week in a row that claims have been higher than expected.

from Zero Hedge:
Initial claims came, saw and missed for the 4th week in a row, printing at 371K, on expectations of a decline from 372K to 365K. As happens at the end of every year when employers turn on the pink sheet machine, the not seasonally adjusted number soared from 490K to 552K in the week ending January 5, a difference to the seasonally adjusted print of 181K. This is to be expected. What was unexpected is that the last week print saw its first downward adjustment in what seems years (it actually is years), with the December 29 week claims number declining from 372K to 367K, probably as a result of all the year end guessing that goes on to assist the other guessing that goes into the seasonal adjustment guessing.