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Jobs

Jobless Claims Improve, Still Above Red Line

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By Jon C. Ogg Published
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The Labor Department has shown a slight improvement in the weekly jobless claims.  The weekly reading fell by 16,000 to 414,000 and that 430,000 from the prior week was revised from the preliminary figure of 427,000.  This week’s estimate from Bloomberg was 420,000. This is actually the tenth week back above the 400,000 mark.

The 4-week average, which seeks to smooth out the weekly volatility, was unchanged at 424,750.

What we call the army of unemployed, the continuing jobless claims, fell by 21,000 to 3.675 million.  Lastly, the unemployment rate for workers with unemployment insurance was 2.9%.

This week seems to have no exceptional or unusual items.

JON C. OGG

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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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