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Jobs

Jobless Claims Hold, Still Red-Line for Unemployment

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By Jon C. Ogg Updated Published
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The U.S. Labor Department is out with its latest round of weekly jobless claims. Last week’s figure came to a drop of 3,000 on a revised basis to 420,000 versus 423,000 a week earlier.  Last week had originally been reported as 421,000 before the revision.

Bloomberg had estimates at 420,000 and Dow Jones had estimates at 425,000 on last look.

The four-week average fell again by 5,250 to 422,750 from a revised 428,000 the week before.

The army of unemployed measured by the continuing jobless claims came to a gain of 22,000 to 4.135 million versus a revised figure of 4.113 million a week earlier.

The good news is that things aren’t getting worse.  There is just nothing here that suggests that these figures will create a boost to the employment situation.

JON C. OGG

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.

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