Initial claims hit a 5 year low, with the 4-week moving average, continuing claims, and emergency claims falling as well.
Additionally, 2nd quarter GDP increase was adjusted up to a 1.7% annual rate (forcast was for 1.0%), though this was because the 1st quarter was revised down from 1.8% to 1.1%, meaning that the end position pretty much matched estimates.
It's an artifact of the ill advised deal that gave us the sequester, because the federal spending cuts to a large degree offset good numbers from the manufacturing sector.
July job numbers come out tomorrow.
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