The last two weeks of data from the Initial jobless claims has been up in the air due to California’s “computer glitches” (sounds like ‘ID 10 t’ errors to me )
and that’s set to continue today as the backlog has still not been cleared. It’s caused such a problem that Governor Jerry Brown has told the office to pay out on claims even though people may not be eligible.
Claims gave us a little shock by dropping below 300k on the 12th and they were still below the 325/330 average for the last few weeks, due to the problems in California.
Be prepared for this weeks numbers to show some volatility as well. Depending on how much they’ve cleared out of the backlog we could have higher claims, due to them paying out willy nilly or lower numbers if they’ve got a handle on the problem. Depending on which it is we could then also have another knock on effect next week.
