- Initial Jobless Claims for last week rose to 319K versus estimates of 325K and a downwardly revised 315K the prior week.
- Continuing Claims fell to 2585K versus estimates of 2580K and a downwardly revised 2591K prior.
BOTTOM LINE: First-time jobless claims in the US rose less than forecast last week, signaling firings aren’t accelerating, Bloomberg reported. The four-week moving-average of claims fell to 324,000 versus 325,000 the prior week. The unemployment rate among those eligible for benefits, which tracks the US unemployment rate, held steady at a relatively low 2%. I continue to believe the labor market, while loosening modestly in the near-term, will remain healthy over the intermediate-term as companies gain confidence in the sustainability of the current expansion.
No comments:
Post a Comment