S&P 500
7,507.80
-0.22%
Dow Jones
51,595.40
-0.32%
Nasdaq 100
30,411.80
-0.23%
Russell 2000
2,975.48
-0.09%
FTSE 100
10,384.80
-0.34%
Nikkei 225
71,987.20
+0.02%

Jobs

Another Positive Move in Jobs

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published

Invalid Image
The Labor Department just released the weekly jobless claims data and showed that the weekly jobless claims fell down by 19,000 back under the 400,000 threshold to some 391,000 claims.  Dow Jones was looking for the claims figure to be about 405,000.  The reading from the prior week was also revised from 410,000 to 413,000.

The four-week moving average of jobless claim is meant to smooth out the weekly gyrations and that fell by 16,500 to 402,000.

The army of unemployed, measured with a one-week lag in the continuing jobless claims, fell by some 145,000 to 3,790,000.

Again, this is more of a start to the better (or less-bad) jobs market.  Unfortunately, a reading this high still does nothing for the overall employment figures.  It is a start, but it has to become more sustained and the claims have to fall considerably more for a real jobs market improvement.

If you wanted an analogy about how good this news is in reality, it is like taking your six-year old kid to the dollar store and saying. “You get two of anything you want in the whole store.”

JON C. OGG

Follow 24/7 Wall St. on Google
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.

Continue Reading

Jon C. Ogg |

Jobless Claims Sending Different Messages Than Outside Reports Suggest

All in all, the Labor Department data offers signs of hope for the October employment report that will be out…

Jon C. Ogg |

Weekly Jobless Claims Still Far Too High

The data on weekly jobless claims from the Labor Department fell by 44,000 in the last week to 434,000.  We…

Jon C. Ogg |

Finally, Some Good News on Jobs

The Labor Department has finally delivered some good news in the weekly jobless claims reading.  While the prior week was…

Jon C. Ogg |

Weekly Jobless Claims Heading Significantly Better

The Labor Department is out with data on the weekly jobless claims.  While the week was ahead of a three-day…

Jon C. Ogg |

The Jobless Claims Keep Coming

The weekly jobless claims from the Labor Department was roughly in-line with expectations as the rate came to an adjusted…

Weekly Jobless Claims Tank As Europe Enters More Quantitative Easing
Jon C. Ogg |

Weekly Jobless Claims Tank As Europe Enters More Quantitative Easing

Last week's jobless claims fell to 259,000. Bloomberg had the consensus estimate pegged higher at 272,000. We haven't seen claims…

Jon C. Ogg |

Jobless Claims Tick Higher

Jobless claims rose 4,000 last week to 277,000. This is the fourth straight week with claims ticking higher, but it…

Jon C. Ogg |

Labor Department Brings Great News on Jobless Claims

The U.S. Labor Department is out with its tally on weekly jobless claims, and the verdict is that it was…

Jon C. Ogg |

Another Poor Weekly Jobless Claims Reading

The Labor Department has reported another weak figure in the weekly jobless claims, and this may sour the tone for…

Top Gaining Stocks

CarMax
KMX • Vol: 7,330,419
Corning
GLW • Vol: 22,800,969
Intel
INTC • Vol: 233,719,006
Super Micro Computer
SMCI • Vol: 68,465,534
Enphase Energy
ENPH • Vol: 13,978,376

Top Losing Stocks

Accenture
ACN • Vol: 41,744,333
EPAM Systems
EPAM • Vol: 5,636,587
Cognizant
CTSH • Vol: 61,311,400
Coterra Energy
CTRA • Vol: 73,319,495
Kroger
KR • Vol: 26,704,230