S&P 500
7,582.20
+0.03%
Dow Jones
51,018.80
+0.58%
Nasdaq 100
30,344.40
+0.25%
Russell 2000
2,916.31
-0.54%
FTSE 100
10,378.60
-0.32%
Nikkei 225
66,231.90
+0.67%

Jobs

Weekly Jobless Claims Challenge 400,000 Yet Again

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
The weekly jobless claims from the US Labor Department did rise in the last week.  The good news is that there was not a 400,000 handle on the data.  The bad news: the might as well have been back above it.  Jobless claims rose by 26,000 to 397,000 for the last week.

Bloomberg had a consensus expectation of 385,000 for this week.  The prior week’s revision went from 368,000 to a higher reading of 371,000.  The four-week moving average also rose by 3,000 to 392,250.

The army of unemployed measured by the continuing jobless claims fell by 20,000 to 3,771,000.  Keep in mind that there is a one-week lag on continuing claims.

It is almost refreshing to see yet another week under the 400,000 jobless claims.  The sad issue is that this is still close enough to 400,000 that it isn’t helping even if the government keeps counting fewer and fewer belly buttons in the labor force each month.

JON C. OGG

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
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 |

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 |

Mild Help in Weekly Jobless Claims

We got another drop in the weekly jobless claims in this last week from the U.S. Labor Department but the…

Jon C. Ogg |

Weekly Jobless Claims Head Very Much The Wrong Way

The US Labor Department’s reading on weekly jobless claims rose by 24,000 to 399,000 and there was a revised higher…

Jon C. Ogg |

Weekly Jobless Seasonality Brings Best Data in 2+ Years

The weekly jobless claims will sound great on the surface for the last report of the year.  Much of this…

Douglas A. McIntyre |

Jobless Data Trying to Hang in There

The Labor Department has just released its figure for weekly jobless claims.  The figure came in at 505,000 in the…

Jon C. Ogg |

Jobless Claims Keep Weak Tone For Unemployment Data Hopes

Jobless Claims from the Labor Department are still too high.  The jobless claims figure was down 1,000 to 400,000 on…

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…

Jon C. Ogg |

Jobless Claims, More and More Pain

Weekly jobless claims are getting worse and worse.  At this rate we’ll be above 500,000 per week again very soon. …

Jon C. Ogg |

Jobless Claims Actually At 7-Month Low

The Labor Department is showing that weekly jobless claims fell by 5,000 to 388,000 versus a Dow Jones forecast of…

Top Gaining Stocks

Dell Technologies
DELL • Vol: 42,366,555
NetApp
NTAP • Vol: 15,911,807
ServiceNow
NOW • Vol: 68,243,561
IBM
IBM • Vol: 28,527,546
Hewlett Packard Enterprise
HPE • Vol: 86,996,387

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Clorox
CLX • Vol: 4,744,001
ResMed
RMD • Vol: 3,526,686
Intel
INTC • Vol: 191,680,425
Skyworks Solutions
SWKS • Vol: 5,407,806