The weekly jobless claims from the U.S. Labor Department showed a decline from the week before. The weekly claims fell by a 29,000 adjusted figure to 469,000 claims after last week’s figure was moved up to 498,000 versus a prior 496,000. The 4-week average also fell 3,500 to 470,750.
The big change here is in the army of unemployed measured by the continuing claims. The figure dropped by 134,000 to 4,500,000 from a revised 4,634,000 a week ago. This figure is still high yet appears to be a year low.
Weather is playing an issue in these figures. Some government offices in the Northeast have been closed or were on shorter hours as a result of major snow storms. Despite Larry Summers trying to prep us for a weak jobs figure on tomorrow’s unemployment report, there is no clear barometer or major change seen from any of this week’s labor data.
JON C. OGG
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
