Markets

U.S. ECONOMICS: Jobless Claims Jump

The report Thursday morning of a bounce of 21,000 weekly initial jobless claims last week to 311,000 more than reversed the 13,000 drop to 290,000 (was 289,000) at the start of August, leaving the measure well above the 279,000 mid-July cycle low.

Although the claims are reversing some of last month's retooling hit, levels remain tight relative to the pre-July trajectory. Claims are averaging 306,000 thus far in August, which is above the 296,000 July figure but well below prior averages of 315,000 in June and 312,000 in May.

Next week's August Bureau of Labor Statistics survey weekly reading looks poised to sit between the 303,000 July figure and higher previous BLS readings of 314,000 in June and 327,000 in May.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More