Weekly Jobless Claims Slight Improvement, But No Celebrations
The Labor Department is out with its latest weekly jobless claims and we saw a drop at -11,000 to 445,000, although the figures from a week ago were revised slightly higher to 456,000 from 453,000. Bloomberg had a consensus of…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
In order to smooth figures out, the four week moving average fell by 3,000 to 455.750.
As far as the army of unemployed measured by the continuing jobless claims, that figure fell by 48,000 to 4,462,000 from the prior week’s revised reading of 4,510,000.
As we are seeing with most weeks now, a very small improving trend but nothing anywhere close to levels that will help out unemployment or the broader economy.
JON C. OGG
Contact [email protected] for any questions or corrections.
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.