It's Jobless Thursday

Initial unemployment claims rose by 18,000 to 409,000 last week, though the 4-week moving average fell by 3,500 to 410,750, with continuing claims fell by 47K to 4.103 million, and I can't seem to find the data on extended claims.

In related, and rather surprising news, payroll processor ADP is predicting that private employment increased by 297,000 last month.(!)

If true, this is good news, though I'll wait for the official data tomorrow.