Jobs
Jobless Claims, Personal Income & Spending Weigh on Unemployment
Published:
Last Updated:
The data this morning from the Labor Department is not great news, but it is not awful news either. The weekly jobless claims came in 351,000 from a revised figure of 353,000 a week ago. Bloomberg had estimates of 355,000 and the prior week’s unrevised data was 351,000 on a preliminary basis. Continuing jobless claims came in at roughly 3.4 million and that figure is reported with a one-week lag.
The reading for personal income and spending came in a tad light for the month of January. Personal income rose by +0.3 in January against a Bloomberg consensus of +0.5%. Personal spending, the grease of the economy, rose by +0.2% against a Bloomberg consensus target of +0.4%.
Today’s latest news on the jobs and spending front may be a light disappointment to some market observers, but all in all these are probably too indifferent to move the markets much in either direction on their own. The next look will be toward the Bernanke testimony later this morning.
JON C. OGG
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
