Weekly Jobless Data Prelude to Confusing Unemployment Report
The weekly jobless claims from the U.S. Labor Department showed a decline from the week before. The weekly claims fell by a 29,000 adjusted figure to 469,000 claims after last week’s figure was moved up to 498,000 versus a prior…
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The big change here is in the army of unemployed measured by the continuing claims. The figure dropped by 134,000 to 4,500,000 from a revised 4,634,000 a week ago. This figure is still high yet appears to be a year low.
Weather is playing an issue in these figures. Some government offices in the Northeast have been closed or were on shorter hours as a result of major snow storms. Despite Larry Summers trying to prep us for a weak jobs figure on tomorrow’s unemployment report, there is no clear barometer or major change seen from any of this week’s labor data.
JON C. OGG
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
