Weekly claims fell by 12,000 to 350,000, and the prior week was revised only slightly higher to 362,000 from a preliminary report of 361,000. Bloomberg was calling for a reading of 365,000 for this last week. Here are two other measures we follow as well:
- The four week-average fell by 11,250 to 356,750.
- The army of unemployed measured by the continuing jobless claims fell by 32,000 to 3,206,000 (with a one-week lag).
It is good news that the readings are down to 350,000. Still, we would caution investors and market participants that the weekly jobless claims, and even next week’s unemployment report, may be smoothed over as noise due to the holiday transitions. It is not that numbers do not matter at all. It is just that they will be smoothed out with more accurate data in the coming weeks as we have a resolution (or not) to the fiscal cliff.
JON C. OGG
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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.