MND NewsWire : jobless claims

Jobless Claims Improve. Temporary Hiring Adds Volatility to Data

Adam Quinones — Thu, 05 Nov 2009 15:25:00 GMT

In the week ending October 31, 2009, jobless claims fell to 512,000 from 532,000 in the previous week, which was revised higher from 530,000. Economists only expected 523,000 new claims for unemployment benefits, so this read was better than expected. This is the lowest number of jobless claims since the week ending January 3, 2009.Same story...layoffs in construction, manufacturing, agriculture, and trade industries. It is in our view that the amount of cost cutting performed by many firms combined with seasonal consumer demand influences will result in periods of temporary employment and thus volatility in labor market data. Unfortunately, as hiring rates remain near record low levels, it is expected that the rate of government insured unemployed Americans will remain high....(read more)

Jobless Claims Led Higher by Layoffs in Manufacturing and Construction

Adam Quinones — Thu, 22 Oct 2009 14:11:00 GMT

This data set tracks new filings for unemployment insurance benefits and the number of Americans who continue to receive state unemployment benefits (called continuing claims or insured unemployment). The fact that this data is released on a weekly basis makes it very appealing to traders and economists as it provides a week over week view into the health of the domestic labor market. Trader's and economists are looking for hints into questions like: Are jobs being created? Are jobs being lost? Does the trend indicate more job losses ahead? Does the trend indicate firms are expanding and hiring more in the process?...(read more)

Mid-Morning Recap: Data is Encouraging, Market Response Limited

Patrick McGee — Thu, 18 Jun 2009 16:00:04 GMT

Stocks opened on par with yesterday’s close but have since climbed higher on encouraging data reports. A weekly labor report showed mixed results, a regional manufacturing report showed significant improvement, and the leading indicators index improved for the second straight month. Ninety minutes into the session, the S&P 500 is up 0.61% to 916, led by gains in the financial sector. The Dow has made a similar 0.69% gain to 8556. However, the Nasdaq index is 0.23% lower at 1803. Also, the...(read more)

Mid-Morning Recap: Stocks Higher on Positive Retail Sales

Patrick McGee — Thu, 11 Jun 2009 15:11:26 GMT

Stocks opened higher and continued their climb in the first hour of trading, as retail sales came in slightly better than expected and a weekly labor report said claims for unemployment benefits were moderating. As of 10:30, the S&P 500 was up 0.90% to 947, the Dow was up 0.91% to 8819, and the Nasdaq was up 0.88% to 1869. The 10-year bond continues to moderate; the yield is down two tenths to 3.93%, after hitting 4.00% yesterday for the first time in a year. The U.S. Census Bureau said Retail...(read more)

Mid-Morning Recap: Directionless Trading One Day Ahead of Nonfarm Payrolls

Patrick McGee — Thu, 04 Jun 2009 16:02:02 GMT

Markets have been volatile Thursday morning as investors react to decent labor data, poor retail reports, and mixed speeches from central bank officials. Trading has been directionless after a higher open, and roughly 90 minutes into the session each major index is slightly higher on the day. The S&P 500 is showing a 0.64% gain to 937, while the Dow is up 0.49% to 8718, and the Nasdaq stands 0.61% up to 1836. The day began on a high note as the weekly Jobless Claims survey saw continuing claims...(read more)

The Day Ahead: Fed Officials Speak on Economy

Patrick McGee — Thu, 04 Jun 2009 13:18:40 GMT

One day ahead of the all-important Nonfarm Payrolls report for May, the focus is on speeches from Federal Reserve officials, overseas policy, and Treasury auctions. The weekly Jobless Claims report for the final week of May is expected to show 620,000 new filings for unemployment benefits. It’s safe to say an outlier figure will be considered a blip due to the four-day week from Memorial Day. Continuing Claims have have been setting record highs one week after the next and this report is unlikely...(read more)

Mid-Morning Recap: Markets Held Down By Labor Data

Patrick McGee — Thu, 21 May 2009 15:18:50 GMT

Positive data and hopeful testimony from Treasury Secretary Tim Geithner at 10 am haven’t been enough to push markets higher following a lower opening on Thursday. Investor sentiment remains weary from Wednesday’s slide and a sour Jobless Claims report an hour before the opening bell. Roughly 90 minutes into the session, the S&P 500 was down 2.06% to 885, the Nasdaq had lost 1.88% to 1695, and the Dow has shed 1.77% to 8273. The day began on a poor note as the Dept. of Labor said...(read more)

The Day Ahead: Mortgage Applications, New Home Sales, PCE Core, Jobless Claims

CEP News Feed — Wed, 26 Nov 2008 00:50:30 GMT

It's another busy day Wednesday ahead of the Thanksgiving holiday, with the release of U.S. personal income , the PCE Core Deflator , new home sales , durable goods and weekly jobless claims . U.S. durable goods are expected to fall 3.0% in October...(read more)

Jobless Claims Continue to Signal Sustained Layoffs

CEP News Feed — Thu, 06 Nov 2008 15:21:43 GMT

Economists say initial and continuing jobless claims continue to signal severe weakness in the U.S. labour market, and that the absence of any impact from Hurricanes Gustav and Ike imply that such weakness cannot be written off with seasonal or temporary...(read more)

Initial Jobless Claims Jump to 478k

CEP News Feed — Thu, 23 Oct 2008 13:43:43 GMT

Initial claims for unemployment benefits in the United States rose above the consensus expectation to 478k in the week ending Oct. 18, up from the previous week's upwardly revised 463k level, the Department of Labor reported on Thursday. Continuing...(read more)

Initial Jobless Claims Fall to 461k

CEP News Feed — Thu, 16 Oct 2008 13:18:26 GMT

Initial claims for unemployment benefits in the United States fell back to 461k in the week ending Oct. 11, down from a seven-year high of 498k reached two weeks ago, the Department of Labor reported on Thursday. Continuing claims rose to 3.711 million...(read more)

Jobless Claims Continue to Suggest Recession, Economists Say

CEP News Feed — Thu, 09 Oct 2008 13:40:01 GMT

Economists say the worrying trend of jobless claims adds further evidence that payrolls will continue to decline for many months. The weekly report showed continuing claims reached a cyclical high, while initial claims fell back from a seven-year peak...(read more)

Jobless Claims Consistent with Recession, Trend to Continue, Economists Say

CEP News Feed — Thu, 02 Oct 2008 13:14:26 GMT

Economists say the higher than anticipated number of unemployment benefits in the week ending Sept. 27 is not only consistent with recession, but is actually worse . Initial jobless claims rose to 497k, the Department of Labor reported on Thursday, while...(read more)

Initial Jobless Claims Rise to 497k

CEP News Feed — Thu, 02 Oct 2008 12:59:31 GMT

Initial claims for unemployment benefits in the United States rose to 497k in the week ending Sept. 27, the Department of Labor reported on Thursday. Continuing claims rose to 3.591 million for the week ending Sept. 20. Initial jobless claims were expected...(read more)

The Day Ahead: Jobless Claims, Factory Orders, Fed Speak

CEP News Feed — Thu, 02 Oct 2008 00:04:15 GMT

Following a flurry of mixed U.S. data today, markets will be interested to see if the employment situation in the country has deteriorated further. Markets will be looking at Thursday's initial jobless claims for the week ending Sept. 27 to address...(read more)