Initial Claims Top Views at 333K as Employers Stem Firings
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Americans filing for unemployment benefits rose last week, but still remains near five-year low levels.
The U.S. Labor Department said on Thursday that jobless claims were 333,000 for the week ending August 3rd. The number compares with a revised-higher 328,000 and expectations of 335,000 claims.
The four-week moving average moved 6,250 lower to 335,500 apps, which is the lowest level since November 2007. Those continuing to receive benefits rose 67,000 to 3.02 million for the week ending July 27th.
Data had 45 states and territories showing a drop in claims, while five showed an increase.
The lower firings should stabilize following summer volatility over auto plant shutdowns. Employers might be gaining more confidence in the economic recovery and are looking to retain more employees than before. One big catalyst on employer and trader's radars is the September FOMC meeting, which might hint at the first signs of expected QE tapering as well as the potential exit of current Fed chairman Ben Bernanke.
U.S. markets are mixed Thursday: the S&P 500 and Nasdaq are up, while the DJIA is slumping slightly.
The U.S. Labor Department said on Thursday that jobless claims were 333,000 for the week ending August 3rd. The number compares with a revised-higher 328,000 and expectations of 335,000 claims.
The four-week moving average moved 6,250 lower to 335,500 apps, which is the lowest level since November 2007. Those continuing to receive benefits rose 67,000 to 3.02 million for the week ending July 27th.
Data had 45 states and territories showing a drop in claims, while five showed an increase.
The lower firings should stabilize following summer volatility over auto plant shutdowns. Employers might be gaining more confidence in the economic recovery and are looking to retain more employees than before. One big catalyst on employer and trader's radars is the September FOMC meeting, which might hint at the first signs of expected QE tapering as well as the potential exit of current Fed chairman Ben Bernanke.
U.S. markets are mixed Thursday: the S&P 500 and Nasdaq are up, while the DJIA is slumping slightly.
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