Initial unemployment claims came in at 217,000, worse than the consensus forecast of 210,000, while continuing claims rose by 35,000 to 1.82 million.
Definitely appears to be a weakening of the market:
Recurring applications for unemployment benefits rose for a sixth straight week, indicating those losing their jobs are starting to have more trouble finding new ones.
Continuing jobless claims, a proxy for the number of people receiving unemployment benefits, increased to 1.82 million in the week ended Oct. 21, the highest level since April, according to Labor Department data out Thursday.
Initial claims also rose, to 217,000 in the week ending Oct. 28. The four-week moving average, which smooths out some of the volatility in the weekly data, ticked up.
The unemployment rate and non-farm payroll numbers come out tomorrow, so there will be a more complete picture in a few hours.
Given that the Federal Reserve kept rates unchanged for the 2nd month in a row, and they alredy have that jobs report, my money is on it not being good.
0 comments :
Post a Comment