Another key metric to watch is the army of unemployed, measured by continuing claims. There is a one week lag in that data, but the figure rose by 34,000 to 3,601,000 for the week.
The market is not likely to react sharply to this report one way or the other. It is a but of a disappointment, but it is also on the heels of three weeks of improved data. It is also still under the 400,000 mark.
Another issue to consider is that this is the next to last report of data from the Labor Department that will be used to compile estimates next week for the December unemployment report.
JON C. OGG
Contact [email protected] for any questions or corrections.
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