The initial jobless claims number is out, and it's ugly.
Initial jobless claims have spiked by 28K week over week to 385K.
Analysts had expected 353K.
This is the second weak datapoint in a row.
Yesterday we got an ADP report that missed notably.
Tomorrow is the Non-Farm Payrolls report, which should be exciting.
Highest weekly claims reading since Thanksgiving.$$
— Bespoke (@bespokeinvest) April 4, 2013
There's growing chatter of a "Spring Swoon" for the US economy.
This number helps bolster that meme.