UPDATE: A source at the Department of Labor explained to us exactly what happened and which state accounted for the plunge. Read more here.
Earlier this morning, the Department of Labor reported that initial jobless claims plunged to 339K from 369K a week ago.
Economists were looking for a reading of 370k.
Immediately, Twitter exploded with tweets mocking Jack Welch, who claimed last week's jobs report was fixed to artificially drop the September unemployment rate to 7.8 percent from 8.1 percent in August.
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