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 Do Little To Change Unemployment Expectations

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published

Invalid Image
The weekly jobless claims data from the Labor Department showed a continued trend of improvement this morning.  The new jobless claims fell by 12,000 to 367,000 in the week ended January 28.  The reading from the week before edged up to 379,000 from 377,000. Dow Jones had estimates of 370,000 for the week.

To smooth out the weekly data, the four-week average fell by 2,000 to 375,750.  The broader measurement of the army of unemployed is measured by the continuing claims (with a one-week lag) and that figure fell by 130,000 to 3,437,000 for the week ended January 21.

With an FOMC outlook of 8.2% to 8.5% in unemployment rates in 2012 and with economists mostly expecting 8.5% unemployment on Friday, today’s data shows no reason to expect much difference in the projected data on Friday in unemployment and in non-farm payrolls.

JON C. OGG

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 |

Jobless Claims Set Tone For Unemployment & Payrolls Data

Weekly jobless claims from the Labor Department looks good on the surface, but it isn’t too good and it won’t…

Jon C. Ogg |

Weekly Jobless Claims Fail to Enthuse, Unemployment and Payrolls on Deck

Ed Brown, via Wikimedia CommonsThe U.S. Labor Department is out with its weekly jobless claims report, the last real employment…

Chris Lange |

What to Expect From This Week’s Unemployment Reports

ThinkstockWith the first week of the month comes the unemployment reports for the previous month. In this case we will be…

Jon C. Ogg |

Weekly Jobless Claims Support QE2’s End As Immaterial

The data on the weekly jobless claims from the U.S. Labor Department is again supporting why the end of QE2…

Jon C. Ogg |

Weekly Jobless Claims Preview Unemployment & Payrolls Data

The U.S. Labor Department is out with its report on weekly jobless claims for the prior week.  Today’s report is unlikely to…

Jobless Claims Add More Base for Strong Payrolls and Unemployment Report
Jon C. Ogg |

Jobless Claims Add More Base for Strong Payrolls and Unemployment Report

Another solid jobs number is setting the tone for Friday's unemployment and payrolls report.

Douglas A. McIntyre |

Can Unemployment Dip Back Under 10% Before Year-End?

There is a slew of economic data hitting the tape this week.  Friday’s report from the Labor Department on Unemployment…

Jon C. Ogg |

Producer Prices and Weekly Jobless Claims Support the Market Rally Again

Ed Brown, via Wikimedia CommonsTwo bits of data were released from the Labor Department today. Weekly jobless claims is a…

Jon C. Ogg |

Weekly Jobless Claims on the Mend

Ed Brown, via Wikimedia CommonsThe U.S. Labor Department is out with its report on weekly jobless claims. There was a…

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