Ahead of Nonfarm Numbers, Initial Claims Jump 6,000 to 402,000
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Americans filing for initial jobless benefits unexpectedly rose during the holiday shortened week, data from the Commerce Department showed Thursday morning.
Initial claims rose 6,000 to 402,000 for the week ended November 26th, far outpacing the 390,000 expected by analysts. Last weeks 393,000 number was revised higher to 396,000.
The four-week moving average rose by 500 to 395,750.
Those continuing to receive benefits increased by 35,000 to 3.75 million for the week ended November 19th.
Americans who have used up traditional benefits and are now on extended claims jumped 69,500 to 3.52 million for the week ended November 12th.
Those eligible for unemployment benefits climbed slightly from 2.9 to 3.0 percent.
46 states and territories reported an increase in claims, while six reported a drop.
On Wednesday, ADP reported a 206,000 increase in payrolls for November, far better than the 125,000 expected by the Street.
With retailers hiring temps for seasonal shoppers, and considering ADP numbers, investors are keeping a closer eye on November's nonfarm number, expected to be 123,000 additions. That data will be out before the market opens Friday morning.
Initial claims rose 6,000 to 402,000 for the week ended November 26th, far outpacing the 390,000 expected by analysts. Last weeks 393,000 number was revised higher to 396,000.
The four-week moving average rose by 500 to 395,750.
Those continuing to receive benefits increased by 35,000 to 3.75 million for the week ended November 19th.
Americans who have used up traditional benefits and are now on extended claims jumped 69,500 to 3.52 million for the week ended November 12th.
Those eligible for unemployment benefits climbed slightly from 2.9 to 3.0 percent.
46 states and territories reported an increase in claims, while six reported a drop.
On Wednesday, ADP reported a 206,000 increase in payrolls for November, far better than the 125,000 expected by the Street.
With retailers hiring temps for seasonal shoppers, and considering ADP numbers, investors are keeping a closer eye on November's nonfarm number, expected to be 123,000 additions. That data will be out before the market opens Friday morning.
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