Initial Jobless Claims
- Initial Jobless Claims rose 18,000 to 409,000; consensus was 405k to 415k
- The four week moving average fell to 410,800 from 414,300
- Last week's two year low of 388,000 was revised higher to 391,000
- The unemployment rate for those eligible for benefits remained at 3.3%
The recently improving trend in weekly jobless claims, as well as this week's robust ADP report, create high expectations for tomorrow's unemployment monthly report.
Estimates for tomorrow's report are:
Unemployment Rate to decline from 9.8% to 9.7%
Private Sectors Jobs to increase 180,000. Last month's figure was 50,000.
Headline figure to increase 150,000. Last month's figure was 39,000.
VALIDATION OF A POTENTIAL IMPROVEMENT IN DEPRESSED LABOR CONDITIONS AWAITS.
Jobless Claims 4 week Moving Average January 2008 - January 2011