The U.S. Labor Department is out with its latest round of weekly jobless claims. Last week’s figure came to a drop of 3,000 on a revised basis to 420,000 versus 423,000 a week earlier. Last week had originally been reported as 421,000 before the revision.
Bloomberg had estimates at 420,000 and Dow Jones had estimates at 425,000 on last look.
The four-week average fell again by 5,250 to 422,750 from a revised 428,000 the week before.
The army of unemployed measured by the continuing jobless claims came to a gain of 22,000 to 4.135 million versus a revised figure of 4.113 million a week earlier.
The good news is that things aren’t getting worse. There is just nothing here that suggests that these figures will create a boost to the employment situation.
JON C. OGG
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