«This is yet another sign that, as we first saw
with the initial jobless claims data, the recovery from Harvey was very fast and the disruption from Irma in Florida was far less than initially feared,» said Stephen Stanley, chief economist at Amherst Pierpont Securities.
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.
Unemployment is down,
with initial jobless claims falling to the lowest level in four years.
Not exact matches
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.
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).
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.
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.
Initial jobless claims are around 320,000, a level usually associated
with monthly employment gains of more than 200,000, and the employment components of the ISM surveys report healthy labour demand.