The market is expected to see the
weekly initial jobless claims data and the trade balance in the US with focus on Friday's non-farm payroll report.
WEEKLY CLAIMS: The most recent
initial jobless claims data shows claims at 236.75 k on a four - week moving average basis, slightly lower than the 242k rate heading into July's payrolls data.
Other job - related data continue to show signs of improvement
with initial jobless claims hovering near a new low of the recovery at the end of March.
Jobless claims back on track The economy received another bright sign of hope to start the day, as
U.S. initial jobless claims for last week fell sharply.
The economics calendar will be busy Thursday, with the weekly report
on initial jobless claims, as well as readings on worker productivity and the trade balance are all due at 8:30 AM ET (1230GMT).
Initial jobless claims hit a large spike the week of December 17, rising by 21,000 to a higher - than - expected level of 275,000.
The Department of Labor reported that
Initial jobless claims at 367,000 increased 8,000 from the prior week's unrevised figure.
Turning to today's economic calendar, Eurozone trade data will be released along with a string of US reports
including initial jobless claims and manufacturing figures.
On the data front, U.S.
initial jobless claims fell by 4,000 last week to a seasonally adjusted 226,000, the Labor Department reported Thursday.
Next week,
U.S. Initial Jobless Claims will be closely watched as the economy has had some mixed signals on how robust the economy really is and how this might impact the Federal Reserve's decision to raise interest rates.
Employment related indicators were neutral to positive: The Department of Labor reported that
Initial jobless claims declined 6000 from last week's unrevised 369,000.
Tomorrow's MBA Mortgage Applications -LRB--2 % prior), Housing Starts (950k expected) and Thursday's CPI (0.3 % expected), along
with Initial Jobless Claims (335k expected), should provide some additional guidance.
After last week's sharp drop
in initial jobless claims to 209k, the lowest since 1969, they stayed pretty low this past week.
There has been a fairly sustained increase in job creation over at least the last five months, Desjardins said, and the level
of initial jobless claims has been decreasing.
CNBC's Rick Santelli reports the latest read on productivity,
initial jobless claims and trade balance.
On the data front,
initial jobless claims increased to 211,000 in the prior week, but remain near the lowest level since 1973.
Initial jobless claims fell to 268,000 in the week ended March 28 from the previous week's revised level of 288,000 (was 282,000).
Its underlying (seasonally adjusted) economic indicators (weekly
initial jobless claims; monthly payroll employment, industrial production, personal income less transfer payments, manufacturing and trade sales; and quarterly real GDP) blend high - and low - frequency information and stock and flow data.
Forward indicators of employment remain positive, with recent data for
initial jobless claims and the employment indices from the manufacturing and non-manufacturing ISM surveys at levels that are consistent with strong employment gains in the period ahead.
For example,
the Initial Jobless Claims spiked last week, an event which would normally lead mortgage rates sharply lower.
For example, weekly
initial jobless claims are currently running at around the 345,000 level, which in the past has been consistent with monthly employment gains of around 150,000; the manufacturing ISM employment index is at a 20 - year high; and growth in temporary - help services employment (which tends to lead overall employment) has picked up.
In the week ended 28 April,
the initial jobless claims rose slightly to 211k from 209k.
July 3rd's schedule contains Trade Balance but also the significant numbers of the Unemployment Rate and
Initial Jobless Claims.
,
Initial Jobless Claims (310k exp., 304k prior) and the Philadelphia Fed Business Outlook (16 vs. 17.8 prior) will follow.
Later in the week Durable Goods Orders (2 % expected),
Initial Jobless Claims (313K expected), and the University of Michigan Confidence Survey (83 expected) close out the week.
Initial Jobless Claims (325k expected) and March's Wholesale Inventories (0.5 % expected) will close out the week.
*
Initial Jobless Claims are very low right now (historically speaking).
Initial jobless claims continue to make new lows for this economic expansion.