The weekly jobless claims just keep offering no real support to the labor market. Data released by the U.S. Labor Department showed that the weekly jobless claims rose again. The prior week’s figure of 414,000 was revised to 420,000 and the report this week was up at 429,000. Bloomberg had consensus estimates of 415,000.
The four-week average was unchanged at 426,500 and the unemployment rate for those with unemployment insurance was unchanged at 2.9%.
The army of unemployed, measured by the continuing jobless claims with a 1-week lag, fell by 1,000 to 3.697 million.
We did see a note that six states were simply estimated due to a glitch. A glitch? In short, next week’s revision could be a bit more off than in prior weeks.
JON C. OGG
It’s Your Money, Your Future—Own It (sponsor)
Retirement can be daunting, but it doesn’t need to be.
Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.