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Jobs

Jobless Claims Lack Catalyst for Friday’s Unemployment Data

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By Douglas A. McIntyre Updated Published
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The Labor Department posted the weekly jobless claims data this morning.  The figure came to a gain of 1,000 on an adjusted basis to 433,000.  Bloomberg had the consensus estimate at 450,000, although that may have come down on the previews of the other jobs data that had come out throughout this week.

The four-week average posted an eighteen-week run downward by a drop of 10,250 to 450,250.  The big figure was in the army of unemployed measured by the continuing jobless claims, which fell by 179,000 to 4,802,000.

Today’s data is still headed in teh right direction, but the problem is that these figures are not deemed anywhere near enough to considerably move the needle in unemployment nor in jobs growth.  All eyes will probably look a bit past today and look to unemployment and the change in in non-farm payrolls due Friday.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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