Weekly Jobless Claims Tick Up
The report on weekly jobless claims is now out from the Labor Department, and the number of claims gained 2,000 to total 366,000. Bloomberg and Dow Jones were both looking for 365,000 for the week. The figure from last week…
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Another measurement of the army of unemployed is the figure for continuing claims of more than one-week (with a one-week lag). That figure came down to 3.3 million.
The good news is that these claims are lower than the 400,000 figures seen earlier, but the bad news is that they are still too high to really make a dent in the unemployment rate.
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.
