S&P 500
7,401.00
+0.91%
Dow Jones
49,665.70
+0.19%
Nasdaq 100
29,241.00
+2.43%
Russell 2000
2,860.88
+0.82%
FTSE 100
10,263.70
+0.48%
Nikkei 225
63,767.70
+2.68%

Economy

Mixed Jobless Data Ahead of Unemployment

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
The report for Weekly Jobless Claims did show a drop, just not one that shows a robust labor market.  There was a 10,000 drop to 453,000, but that is based on the prior week’s figure going from 460,000 to 463,000.  The for-week average actually rose again by 1,750 to 459,000.  There is also of course the ADP data.

The army of unemployed measured by the continuing jobless claims rose by 31,000 to 4,666,000 from the prior week’s revised level of 4,635,000.

The good news about this last week is that weeks right before and after a holiday are skewed.

ADP still attempts to offer insight into the monthly unemployment and non-farm payrolls data, which is due tomorrow.  ADP estimated that some 55,000 jobs were created in May.  That is a gain, but it is south of the 75,000 expected.  ADP revised its April figures higher to 65,000 rather than 32,000.

This is all ahead of tomorrow’s big data, which is expected to show a gain of more than 500,000 jobs in the non-farm payrolls.

JON C. OGG

Sponsor: 3 Recovery Stocks to Own Now – Get the names of the best cheap stocks to rebuild your wealth in 2010 and beyond.

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

A $185,000 Portfolio That Covers Your Groceries, Utilities, and Phone Bill Every Month
Drew Wood |

A $185,000 Portfolio That Covers Your Groceries, Utilities, and Phone Bill Every Month
A $730,000 Portfolio That Pays More Than What Most Americans Earn at Work
Drew Wood |

A $730,000 Portfolio That Pays More Than What Most Americans Earn at Work

Continue Reading

Jon C. Ogg |

Jobless Data Fails To Inspire

After the surprise drop of 23,000 in ADP estimated payrolls for March, all eyes were on the Labor Department’s weekly…

Jon C. Ogg |

Jobless Claims Keep Weak Tone For Unemployment Data Hopes

Jobless Claims from the Labor Department are still too high.  The jobless claims figure was down 1,000 to 400,000 on…

Jon C. Ogg |

Finally, Some Good News in Unemployment

The Labor Department has released its figures for unemployment and for non-Farm Payrolls for the month of March.  The official…

Jon C. Ogg |

Weekly Jobless Claims Tick The Wrong Way

The U.S. Labor Department is out with its weekly jobless claims and this is effectively the last-look figure before Friday’s…

Jon C. Ogg |

Weekly Jobless Claims Preview Unemployment & Payrolls Data

The U.S. Labor Department is out with its report on weekly jobless claims for the prior week.  Today’s report is unlikely to…

Jon C. Ogg |

The Magic Drop in Unemployment

The U.S. Labor Department has reported on November unemployment and non-farm payrolls this morning on the heels of a weak…

Jon C. Ogg |

Weekly Jobless Claims Versus Unemployment Reading

Weekly jobless claims from the US Labor Department are not likely to have much market impact this morning despite the…

Douglas A. McIntyre |

Jobless Figures, Ominous For Tomorrow’s Unemployment

We have just seen the figure for weekly jobless claims, and it is an ugly prelude to tomorrow’s unemployment and…

Jon C. Ogg |

Reality Check on Unemployment & Jobs Creation, Ugliness

The Labor Department is out with the newest round of its unemployment and non-Farm payrolls data.  Unlike expectations, it is…

Top Gaining Stocks

Akamai
AKAM • Vol: 21,556,944
Micron Technology
MU • Vol: 65,135,624
Intel
INTC • Vol: 227,504,426
Monster Beverage
MNST • Vol: 15,284,847
Dell Technologies
DELL • Vol: 12,167,525

Top Losing Stocks

Mettler Toledo International
MTD • Vol: 539,266
Motorola Solutions
MSI • Vol: 3,101,643
Expedia
EXPE • Vol: 4,189,786
Coterra Energy
CTRA • Vol: 73,319,495
Fidelity National Information Services
FIS • Vol: 11,468,820