"Fed Whisperer" Nick Timiraos: Increase in US jobless claims may be due to New York state schools closing.

"Fed Whisperer" Nick Timiraos said, "In the past week, both initial and continuing jobless claims have risen, considering the seasonal pattern, this is not normal, although one week of data cannot form a trend." Pantheon Macroeconomics economist Samuel Tombs responded, "The rise in initial jobless claims is mainly driven by New York state. This seems to be related to the timing of spring break for New York public schools, which happens every year. Seasonal effects did not spur the sudden increase."