The +113k is a bit light with an environment of +350k new claims. Remember that +350k initial claims is but one side of the equation. Difference is that other recoveries have been in the 4-6% GDP growth range. This time it has been 2-3% growth. The Initial Claims number doesn't bother me one bit. It's on the low side historically. The NFP growth number does bother me as does relatively weak GDP growth for the reasons I've outlined in another post in this thread (and numerous others).
Here is the trend of NFP, UE and Initial Claims over the last 25 years:
The total for all sectors that lost employment is -52K for one month.
Still a heck of a lot different than 350K per week in new claims.
What am I missing?