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Jobs

A Small Jobless Claims Improvement

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By Jon C. Ogg Updated Published
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The Labor Department’s figures on the latest weekly jobless claims came in with a drop of 16,000 down to 453,000, slightly better than expected but still a no-growth level for jobs.  The consensus estimate was 460,000 per CNBC and 459,000 per Bloomberg.

The prior week’s level is also eating up some of this week’s improvements as the figure was revised to 469,000 from 465,000.

If you smooth the figures out via the four-week moving average, the claims figure there also fell by 6,250 to 458,000 versus the prior week’s revised average of 464,250.

The army of unemployed measured by the continuing jobless claims fell by a large number of about 83,000 down to 4,457,000 versus the previous week’s revised figure of 4,540,000.

A tad better, but nothing to celebrate.

JON C. OGG

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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.

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