Jobless Claims Revert Back to Caution
The Labor Department is out with its latest round of weekly jobless claims. There was a known seasonality and weather impact that could have played a part in the last week of the year. The tally for the last week…
The four week average came down by 3,500 to 410,750. Another measurement to watch is the army of the unemployed measured by the continuing jobless claims. That figurehas a week lag and it fell by 47,000 to 4.103 million from a revised higher figure of 4.15 million.
After yesterday’s much better ADP and TrimTabs data, the bias for non-Farm Payrolls and unemployment due Friday has improved.
The bias is still for a slightly better reading on the jobs front for Friday’s data.
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.
