Weekly Jobless Claims Bring No Mercy
The weekly jobless claims just keep offering no real support to the labor market. Data released by the U.S. Labor Department showed that the weekly jobless claims rose again. The prior week’s figure of 414,000 was revised to 420,000 and…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
The four-week average was unchanged at 426,500 and the unemployment rate for those with unemployment insurance was unchanged at 2.9%.
The army of unemployed, measured by the continuing jobless claims with a 1-week lag, fell by 1,000 to 3.697 million.
We did see a note that six states were simply estimated due to a glitch. A glitch? In short, next week’s revision could be a bit more off than in prior weeks.
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.
