Thursday, November 08, 2007

Job Market Still Healthy

- Initial Jobless Claims for this week fell to 317K versus estimates of 325K and 330K the prior week.

- Continuing Claims fell to 2579K versus estimates of 2560K and 2583K prior.

BOTTOM LINE: The number of Americans filing first-time claims for unemployment benefits fell more than forecast, suggesting the job market remains resilient, Bloomberg said. The four-week moving average of jobless claims rose to 329,750 versus 327,750 the prior week. The unemployment rate among those eligible to collect benefits held steady at a historically low 1.9%. I continue to believe the job market will remain healthy over the intermediate-term without generating substantial unit labor cost increases.

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