Weekly Jobless Claims on the Mend

Investors are getting used to seeing numbers that are getting beyond the impact of Hurricane Sandy. The weekly jobless claims should be normalized by now, and even if not fully normalized the reports are going to be less and less “exceptional” as to why.

Two more readings are important within the claims. The four-week average fell by 2,250 to 408,000. The army of unemployed, measured by the continuing jobless claims, with a one week lag, fell by 100,000 to 3,205,000.

Today’s numbers are better than expected, but they are unlikely wide enough to influence the expectations for unemployment and in nonfarm payrolls that the Labor Department will announce on Friday morning.

The S&P and DJIA are both still looking for direction this morning.

JON C. OGG