Initial Claims increased to 434,000, for the week ending 01/02, less than the expected increase to 441,000, following a decrease to 433,000, the revised figure for the previous week. The 4-week moving average fell for the 18th successive week to 450,250, by 10,250 from the previous week’s revised average of 460,500. This is very close to the 425,000 mark, which economists believe would be a signal that the economy will begin to create jobs. Seasonally adjusted insured unemployment from the prior week, ending on 12/26, was 4,802,000, a decrease of 179,000 from the preceding week’s unrevised level of 4,981,000. Seasonally adjusted insured unemployment rate from the week ending on12/26, was 3.6%, a decrease of 0.2 percentage point from the previous week’s unrevised figure of 3.8%. Tomorrow, the monthly employment situation is scheduled for release by the Bureau of Labor Statistics at 8:30 AM EST and the unemployment rate is expected to increase to 10.1% for December from 10% recorded in November.
Upcoming Releases
Unemployment Rate (01/08 at 8:30 AM EST)
Wholesale Inventories (01/08 at 10:00 AM EST)
Consumer Credit (01/08 at 3:00 PM EST)
Trade Balance (01/12 at 8:30 AM EST)
