INITIAL CLAIMS BEAT EXPECTATIONS, SINKING TO 351K

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UPDATE: Initial claims beat analyst expectations, coming in at 351K.

Continuing claims also sunk from 3416K last week to 3343K this week.

Futures are moving higher on this and other data this morning, particularly a really positive Empire Manufacturing Survey.

 

ORIGINAL: At 8:30 AM EST the Department of labour will release its newest round of data on initial jobless claims.

Economists polled by Bloomberg expect that number to decrease from 362K last week to 357K.

We’ve been seeing overall improvements in the labour market. However, some analysts believe that employment data may be catching up to expectations, and a miss on initial claims last week didn’t bolster confidence in continuing strength in the labour market.

We’ll have the initial claims data right here for you as soon as it comes out.

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