Our FREE Investing Newsletter
    Get Exclusive Summer Sale Discounts

    By joining our email marketing list you agree to receive marketing emails from Hedgeye. You may unsubscribe at any time by clicking the unsubscribe link in one of the emails. All Hedgeye products and services are subject to Hedgeye’s Terms of Service available at www.hedgeye.com/terms_of_service

Initial jobless claims are now back to pre-Hurricane Sandy levels. Two weeks ago, examining state level data of NY, PA and NJ showed that these three stated accounted for 20.3% of jobless claims while only accounting for 13% of the population. That difference, 7.3%, is down from 12.4% in the previous week. If we adjust the claims number from two weeks ago, 393k, for this over-representation we find normalized claims should be around 366k (393k / 1.073). This morning's print of 370k is consistent with that estimation. One month from now, we expect numbers will be fully normalized.

Jobless Claims: Goodbye Sandy! - 1

Jobless Claims: Goodbye Sandy! - 2