S&P 500
7,401.00
+0.91%
Dow Jones
49,665.70
+0.19%
Nasdaq 100
29,241.00
+2.43%
Russell 2000
2,860.88
+0.82%
FTSE 100
10,263.70
+0.48%
Nikkei 225
63,767.70
+2.68%

Jobs

Jobless Claims Keep Weak Tone For Unemployment Data Hopes

Photo of Jon C. Ogg
By Jon C. Ogg Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Jobless Claims from the Labor Department are still too high.  The jobless claims figure was down 1,000 to 400,000 on the nose.  The prior week’s preliminary 398,000 was revised to 401,000, making that streak of 400,000-plus actually longer than what the Labor Department originally told us last week.

The four-week moving average is meant to smooth out the volatility and that figure came down by 6,750 jobs to a new multi-week low of 407,750.

The army of unemployed, measured by the continuing jobless claims, posted a small increase and that is not a sign of real jobs recovery.  That figure rose by 10,000 rose by 10,000 to 3,730,000 with a one-week lag in the reporting.

ADP gave another larger gain than the trackers were calling for from the Labor Department on Friday.  Tomorrow’s targets from Bloomberg are currently for unemployment to be flat at 9.2% and the non-Farm payrolls are expected to gain by 75,000 with private payrolls gaining 100,000 for July.

The beatings continue…

JON C. OGG

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 Leading To Worse Economic & Jobs Prospects

All of the great jobs gains may have peaked if the Labor Department’s report on weekly jobless claims is going…

Jon C. Ogg |

Mixed Jobless Data Ahead of Unemployment

The report for Weekly Jobless Claims did show a drop, just not one that shows a robust labor market.  There…

Jon C. Ogg |

Weekly Jobless Claims Looking Better, and Normalized

Ed Brown, via Wikimedia CommonsThe U.S. Labor Department may be delaying its unemployment report a few days late after the…

Jon C. Ogg |

Weekly Jobless Claims Tick The Wrong Way

The U.S. Labor Department is out with its weekly jobless claims and this is effectively the last-look figure before Friday’s…

Jon C. Ogg |

Weekly Jobless Claims, From Poor to Poorer

The count is growing… Weekly jobless claims as a figure is still headed the wrong way and still above that…

Chris Lange |

Unemployment Rate Dips to 6-Year Low in October

The U.S. Department of Labor said 214,000 nonfarm payrolls were added and the unemployment rate dropped to 5.8%.

Jon C. Ogg |

Tepid Jobs Data Mounts Ahead of Unemployment

Each month before the Labor Department issues its report on unemployment and in payrolls, we get a myriad of non-governmental…

More Weak Jobs Data Going Into Key BLS Payrolls & Unemployment Report
Jon C. Ogg |

More Weak Jobs Data Going Into Key BLS Payrolls & Unemployment Report

Unemployment and jobs add up to the best live-reading barometer of the economy. Each month we get to see numerous…

Jon C. Ogg |

Weekly Jobless Claims Not Enough to Alter Payrolls Expectations

For the week ending September 26, seasonally adjusted initial jobless claims were up by 10,000 from the prior week to…

Top Gaining Stocks

Akamai
AKAM • Vol: 21,556,944
Micron Technology
MU • Vol: 65,135,624
Intel
INTC • Vol: 227,504,426
Monster Beverage
MNST • Vol: 15,284,847
Dell Technologies
DELL • Vol: 12,167,525

Top Losing Stocks

Mettler Toledo International
MTD • Vol: 539,266
Motorola Solutions
MSI • Vol: 3,101,643
Expedia
EXPE • Vol: 4,189,786
Coterra Energy
CTRA • Vol: 73,319,495
Fidelity National Information Services
FIS • Vol: 11,468,820