Jobless claims surge last week

(July 19, 2012) -- "The rise in initial claims in the latest week, which also happened to coincide with the payroll employment survey week for July, confirmed that much of the outsized drop in the previous week likely reflected difficulties seasonally adjusting the data rather than underlying improvement," said Janzen. "This volatility will likely continue to affect the data in coming weeks with a ‘clean’ reading not likely to be released until August."