05 December 2024

It's Thursday ¯\_(ツ)_/¯

Mixed employment numbers this week, initial claims up 9,000, and continuing claims fell by 37,000 to 1.87 million.

This was over the Thanksgiving week, and the 4-day weekend makes for more statistical noise.

We should get more information tomorrow with the monthly jobs report:

Applications for US unemployment benefits rose to the highest in a month during a week that included the Thanksgiving holiday.

Initial claims increased by 9,000 to 224,000 in the week ended Nov. 30. The median forecast in a Bloomberg survey of economists called for 215,000 applications.

The four-week moving average, a metric that helps smooth out volatility, edged up to 218,250.

………

Continuing claims, a proxy for the number of people receiving benefits, dropped to 1.87 million in the previous week, according to Labor Department data released Thursday.

Also, imports fell last month, about 12% from the month before.

 ¯\_(ツ)_/¯ 


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