The Labor Department has released its tally on the weekly jobless claims and the net post-revision data does not show much. The prior week’s reading was revised from 404,000 to 409,000 and the new reading is down by 6,000 to 403,000. Dow Jones had estimates of 400,000.
403,000 may be a bit closer to 400,000 but the real issue is that this has to come down significantly for the unemployment situation to improve. The four-week average fell by 6,250 to 403,000.
The army of unemployed measured by the continuing jobless claims rose by 25,000 to 3.719 million. Weekly claims can come down, but no one likes to see continuing claims on the rise even if there is a one-week lag to the continuing claims data.
More of the same. Weak jobs persist.
JON C. OGG
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.
The Labor Department has released its tally on the weekly jobless claims and the net post-revision data does not show much. The prior week’s reading was revised from 404,000 to 409,000 and the new reading is down by 6,000 to 403,000. Dow Jones had estimates of 400,000.
