Headline Alert
Economic Update: Weekly Jobless Claims
The Labor Department reported that initial claims for unemployment insurance for the week ending December 5th were 474K, which is higher than the expectations for a reading of 465K and last week’s total of 457K.
However, the good news is that Continuing Claims for the week ending November 28th were below consensus at 5.15M vs. 5.45M and last week’s revised total of 5.465M.
The four-week moving average of initial claims, which is used to see the overall trend, fell 7,250 to 473,750.
S&P futures have improved modestly on the report and are now higher by 7.90 in pre-market trading
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