The Labor Department’s report on weekly jobless claims is the next to last report before the coming unemployment data in a week and one day. The latest claims figure was down 6,000 to 386,000 after the prior week was revised 4,000 higher to 392,000. Bloomberg was calling for a consensus of 385,000.
While this is worse than expected, it is still just more of the same for a weakening jobs report next week. With this being an election year it matters even more. In an effort to smooth out the weekly data, the four-week average fell by 750 to 386,750.
The army of the unemployed, measured by the continuing jobless claims (with a one-week lag), was down by 15,000 to 3.296 million. The unemployment rate for insured workers has been stuck at 2.6 percent for three months.
No real good news on the jobs front. Keep in mind that this is also happening at a time when many graduates are out looking for work for the first time. How fun can that be right now?
JON C. OGG
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
