Data on initial
jobless claims for the latest week and import prices for March will be released at 8:30 a.m. ET.
And, on Thursday, the Labor Department will release the number of weekly
jobless claims for the past week.
Not exact matches
And the U.S. Labor Department said that
claims for jobless benefits declined last week by 2,000 to 326,000, which was in line with expectations.
The first allows those
claiming Employment Insurance to earn extra income on top of their benefits, and the other inflates benefits
for claimants in regions with high
jobless rates.
All markets will continue to focus on the volatility in the equity and bond markets, geopolitical events, developments with the Trump Administration, corporate earnings, oil prices, and will turn to this afternoon's FOMC Meeting Statement followed by reports tomorrow on UK PMI, Eurozone PPI, CPI, US Challenger Job Cuts, Productivity, Unit Labor Costs,
Jobless Claims, Trade Balance, Markit Services PMI, ISM Services, Durable Goods and Factory Orders
for near term direction.
On the calendar
for Thursday, existing home sales are expected at 10 a.m. EDT and weekly
jobless claims are at 8:30 a.m. EDT.
Jobless claims, which are a weekly guide to employment, declined
for the week ending August 30, by 9K down to 322K which is the lowest print of 2013.
Also scheduled
for Thursday are the European Central Bank's meeting, weekly
jobless claims and former FBI Director James Comey's testimony before the Senate Intelligence Committee.
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.
We have yet to see this play out — jobs growth has been steady
for 72 straight months,
jobless claims have been falling and confidence in the labor market is at a nine - year high — but the divergence between profits and employment is something to keep an eye on.
There are two categories of
jobless claims — initial, which comprises people filing
for the first time, and continuing, which consists of unemployed people who have been receiving unemployment benefits
for a while.
Delving into details, continuing
claims for the week ended 21 April dropped to 1.76 million from 1.83 million, and the insured
jobless rate dropped one tenth, to 1.2 percent.
Tens of thousands of people cheat the state out of an estimated $ 150 million every year through unemployment insurance fraud, including prison inmates, people who were on overseas vacations when they applied
for benefits and people who had «off the books» jobs but
claimed to be
jobless.
We are not concerned yet, but we are watching out
for any sustained and significant increase in Initial
Jobless Claims.
This is a long term bullish sign
for the stock market because
jobless claims tend to rise before a bear market and recession begins.
Initial
jobless claims continue to make new lows
for this economic expansion.
Jobless claims rise by largest amount in 3 months By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP)-- The number of people filing new
claims for unemployment benefits unexpectedly rose last week by the largest amount in three months.
This was in spite of investors learning that initial
jobless claims had declined by 1,000 to 232,000
for the prior week (remaining at an almost 45 - year low).
was finally released, the pound jumped even higher as a knee - jerk reaction because the report looked good on the surface, with the
jobless rate
for the three months to September unchanged at a record low 4.3 % and the number of people who
claimed unemployment benefits increasing only by 1.1 K in October, which is less than the expected 2.9 K increase.
And when the U.K.'s latest jobs report was finally released, the pound jumped even higher as a knee - jerk reaction because the report looked good on the surface, with the
jobless rate
for the three months to September unchanged at a record low 4.3 % and the number of people who
claimed unemployment benefits increasing only by 1.1 K in October, which is less than the expected 2.9 K increase.
Initial
Jobless Claims (310K, expected), Existing Homes Sales
for April (4.69 M, exp.)
Having said that, US
jobless claims are at their lowest level in 45 years, which suggests fewer people are looking
for work altogether.
Initial
jobless claims surprisingly fell
for a second week in a row, down 23,000 in the week of September 16 to a level of 259,000.
Fueling the uptick: a promising jobs market, with the unemployment rate at a three - year low and first - time
claims for jobless benefits falling last week to a four - year low, according to a Labor Department report Thursday.