The U.S. Labor Department is out with its report on weekly jobless claims, and the major score from the prior week was not followed. Weekly jobless claims rose by 23,000 to 302,000, while Bloomberg and Dow Jones were both looking for claims to come in at 305,000. The prior week’s figure was revised to 279,000 from 284,000.
Keep in mind that the prior week’s report was the best report since before the recession. A positive sign was seen in the four-week average, falling by 3,500 to 297,250 — the lowest level in a decade.
The continuing jobless claims report, the so-called army of the unemployed, which is reported with a one week lag, rose by 31,000 to a seasonally adjusted 2.54 million.
Friday will bring the Labor Department’s unemployment and payrolls report. Estimates are as follows:
- Nonfarm payrolls expected to be up 233,000, versus 288,000 the prior month.
- Private sector payrolls expected to rise 233,000, versus 262,000 the prior month.
- And 6.1% unemployment, flat versus the prior month.
ALSO READ: 10 Cities Where Wages Are Soaring
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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.