The report on jobless claims came a day ahead of a report on unemployment for April. Economists expect that report will show that the unemployment rate edged up to 5.2 percent in April, from 5.1 percent in March. The economy is expected to lose 70,000 jobs, the fourth straight month of job losses.

This is in contrast to a recent weekly report that was better than expected. I suggested then, and will continue to suggest that way better than expected numbers are more likely than not to be outliers.

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