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 key unemployment and non-farm payrolls data. Jobless claims rose by 8,000 to 362,000. The prior week’s reading of 351,000 claims…
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Another aspect to watch is the four-week moving average of claims, which rose by 250 to 355,000. The army of unemployed, measured by the continuing jobless claims with a one-week lag, posted an increase of 10,000 to 3,416,000.
Today’s data is unlikely to make any real changes for Friday’s key unemployment data. Bloomberg has estimates of 8.3% unemployment and non-farm payrolls are expected to be 204,000 versus 243,000 originally reported in January.
JON C. OGG
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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.