Claims data, July 4th influence/PPI falls further

Initial jobless claims fell to 237k from 249k in the week before. That is below the estimate of 250k but as it was for the week ended July 8^th which was really just a 3 day week, the July 4^th holiday likely had an impact. The 4 week average of 247k vs 254k last week. Continuing claims, delayed by a week and thus capturing data right before the holiday, …