Economy
Will Weekly Jobless Claims Disappoint or Please the Market?
Published:
Last Updated:
The U.S. Labor Department is set to report weekly jobless claims on Thursday morning. What is interesting about the trends of late is that weaker economic readings are prevailing, but not in jobs data. Last week’s report of the prior week was set at 287,000 before revisions. The consensus estimate for this week is represented as 290,000 by both Bloomberg and by Dow Jones.
What is taking place is that the market is worried about a slowing Europe and China, and that has to start weighing on fears that perhaps all the gains in the labor market could be at risk. The trends have been under 300,000 in weekly jobless claims, and any reading that is under 300,000 will likely be acceptable to market participants.
Last week’s report on the four-week average was down 7,250 to a new recovery low of 287,750.
Continuing claims are reported with a one-week lag and make up part of the army of unemployed. Last week’s report was down by 21,000 to 2.381 million, also a recovery low.
With this report being on layoffs, it will be interesting to see if companies are playing the opposite side or same side of the fence as other economic readings.
ALSO READ: America’s Best Companies to Work For
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.