S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Jobs

Jobless Claims Heading Wrong Way, No Help For Unemployment Friday

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

The U.S. Labor Department has issued its coverage of weekly jobless claims.  There may be some volatility due to the report being around the Thanksgiving holiday week, but the figures are disappointing and they are actually back above the 400,000 mark.  These figures are seasonally adjusted.

Claims came in at 402,000 versus a Bloomberg consensus estimate of 393,000.  The range from economists was 385,000 to 405,000.  The prior week’s reading was adjusted to 396,000 from a preliminary figure of 393,000.

Today’s news is disappointing that it went back over 400,000.  Fortunately, or unfortunately, it is not likely to alter many expectations for Friday’s unemployment rate for November.  Bloomberg is expecting non-Farm Payrolls to come in at 116,000 versus a prior reading in October of 80,000 and against a range of 70,000 to 150,000.  The November Unemployment Rate is expected to come in at 9.0%, which would be the same as it was in October.

 [wallst_email_signup]

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Retirees Are Realizing a $1.5 Million Nest Egg at 60 Only Means $31,000 in Real Annual Spending
Drew Wood |

Retirees Are Realizing a $1.5 Million Nest Egg at 60 Only Means $31,000 in Real Annual Spending
71% of Americans With Financial Advisors Feel Secure. Only 10% Without One Do
David Beren |

71% of Americans With Financial Advisors Feel Secure. Only 10% Without One Do

Continue Reading

Jon C. Ogg |

The Magic Drop in Unemployment

The U.S. Labor Department has reported on November unemployment and non-farm payrolls this morning on the heels of a weak…
Jon C. Ogg |

Finally, Weekly Jobless Claims Back Under 400,000

Weekly Jobless Claims from the U.S. Labor Department managed to break about a long streak of being back above 400,000. …
Weekly Jobless Claims Unlikely to Upset Unemployment and Payrolls Estimates
Jon C. Ogg |

Weekly Jobless Claims Unlikely to Upset Unemployment and Payrolls Estimates

The U.S. Department of Labor has given what is the last official government report including key jobs data, via weekly…
Jon C. Ogg |

What to Expect From Friday’s Unemployment and Payrolls

Friday's unemployment reading will be one of the last big-data economic reports that the Federal Open Market Committee has before…
Douglas A. McIntyre |

Can Unemployment Dip Back Under 10% Before Year-End?

There is a slew of economic data hitting the tape this week.  Friday’s report from the Labor Department on Unemployment…
Chris Lange |

Will Labor Department Payrolls and Unemployment Report Meet Expectations?

On Friday morning, the U.S. Department of Labor will release its Employment Situation report for the month of October.
Douglas A. McIntyre |

Jobless Data Triumphs in Economic Data Deluge

We just had a deluge of economic data in Personal Income & Spending for September, a rather solid figure on…
Jon C. Ogg |

Weekly Jobless Claims Head Very Much The Wrong Way

The US Labor Department’s reading on weekly jobless claims rose by 24,000 to 399,000 and there was a revised higher…
Chris Lange |

Unemployment Rate Dips to 6-Year Low in October

The U.S. Department of Labor said 214,000 nonfarm payrolls were added and the unemployment rate dropped to 5.8%.

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618