Here comes the gold standard of high-frequency economic data.

Initial jobless claims, due out at 8:30 AM ET, are expected to come in at 370K, a bounce from 352K.

Anything in that range should be fine, so long as there isn't a sharp spike towards 400k.

This number has been steadily grinding lower, and has been the surest indicator that the recovery is on the mend.

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See Also:

• BOOM: INITIAL JOBLESS CLAIMS PLUNGE TO 352K
• CHART OF THE DAY: Send This To Anyone Who Talks About Uncertainty
• The Only 26 US Cities That Have Regained All Of The Jobs They Lost During The Recession