Professionally conditioned to look at changes rather than absolute levels, the strong inclination of many will be to interpret the US jobless claims number (out in about 20 minutes) relative to its most prior readings — with consensus expectations of a weekly decline (please see Bloomberg chart below). This would be unfortunate as, in this particular case, the cumulative multi-week number has a lot of information content that goes well beyond short- and medium-term economic prospects. #economy #jobs #employment #jobless #unemployment …see more