Initial claiims increase -- no wait -- decrease over previous week's revised up figure

And so the gaming continues: Initial Claims miss expectations of a 383K print, coming at 387K, a number which next week will be revised to 390K. This is the 7th miss in a row, and 23rd miss of the past 26 weeks. It is also the highest 4 week average since December. But the mainstream media has its soundbite: "initial claims decline by 2,000" because, lo and behold, last week's 386K print was revised to 389K.

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And of course the headline reads. . .