S&P 500
7,582.20
+0.03%
Dow Jones
51,018.80
+0.58%
Nasdaq 100
30,344.40
+0.25%
Russell 2000
2,916.31
-0.54%
FTSE 100
10,378.60
-0.32%
Nikkei 225
66,231.90
+0.67%

Economy

Weekly Jobless Claims Continue With Strength

Photo of Chris Lange
By Chris Lange Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
The U.S. Department of Labor has released its reading on weekly jobless claims. People who applied for jobless benefits decreased by 14,000 to 298,000. This was a decline from the previous level of 312,000, which had been revised from the preliminary report of 311,000. The number of weekly claims beat the Bloomberg consensus estimate of 300,000.

The four-week running average increased by some 4,750 to 300,750 this week.

Continuing jobless claims fell 49,000 to a seasonally adjusted 2.5 million. These continuing claims are reported with a one-week lag. We would point out that this is the lowest level that continuing jobless claims has hit since June 2007, long before the recession began.

As we have seen in most reports of late, the U.S. Bureau of Labor Statistics said that there were no special factors impacting this week’s initial claims.

Stocks have remained firm after the report. S&P 500 futures were up three points and DJIA futures were up about 30 points. The yield on the 10-year Treasury was 2.43% on last look.

READ ALSO: States With the Most Big Spenders

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Chris Lange
About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

Continue Reading

Jon C. Ogg |

Weekly Jobless Claims Brings Very Pleasant Surprise

Ed Brown, via Wikimedia CommonsThe U.S. Labor Department is out with its report on weekly jobless claims. Thursday’s reading amounted…

Jon C. Ogg |

Positive Reports on Weekly Jobless Claims and on Personal Income

Ed Brown, via Wikimedia CommonsWe have two key pieces of employment data for Thursday’s key economic reports. Weekly jobless claims…

Jon C. Ogg |

Weekly Jobless Claims Again Impacted by Post-Hurricane Data

ThinkstockThe Labor Department released its weekly jobless claims a day earlier than normal due to the Thanksgiving holiday being on…

Jon C. Ogg |

A Better Weekly Jobless Claims Trend

ThinkstockThe U.S. Department of Labor is out with its weekly jobless claims report from last week, showing a positive trend.…

Jon C. Ogg |

Producer Prices and Weekly Jobless Claims Support the Market Rally Again

Ed Brown, via Wikimedia CommonsTwo bits of data were released from the Labor Department today. Weekly jobless claims is a…

Weekly Jobless Claims and Retail Sales Bring Stocks Back Up on Thursday
Jon C. Ogg |

Weekly Jobless Claims and Retail Sales Bring Stocks Back Up on Thursday

There was good news again on the retail sales front after some prior disappointments, and the weekly jobless claims were…

Jon C. Ogg |

Good News From the Weekly Jobless Claims Report

ThinkstockThe U.S. Labor Department has some good news, particularly in light of the Commerce Department revising first-quarter GDP to -1.0%.…

Jon C. Ogg |

Continuing Jobless Claims, the Army of Unemployed, Hits Lowest Level Since Before Recession

Ed Brown, via Wikimedia CommonsThe U.S. Labor Department may have given a disappointing uptick in the unemployment rate two weeks…

Jon C. Ogg |

Weekly Jobless Claims Headed the Wrong Direction, Compared to Bernanke Fears

Ed Brown, via Wikimedia CommonsThe U.S. Labor Department is showing that weekly jobless claims are headed in the wrong direction.…

Top Gaining Stocks

Dell Technologies
DELL • Vol: 42,366,555
NetApp
NTAP • Vol: 15,911,807
ServiceNow
NOW • Vol: 68,243,561
IBM
IBM • Vol: 28,527,546
Hewlett Packard Enterprise
HPE • Vol: 86,996,387

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Clorox
CLX • Vol: 4,744,001
ResMed
RMD • Vol: 3,526,686
Intel
INTC • Vol: 191,680,425
Skyworks Solutions
SWKS • Vol: 5,407,806