Initial Jobless Claims Come In Worse Than Expectations At 457K

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Initial jobless claims came in at 457,000 for the week ending October 30th, vs. 445,000 expected by consensus according to Finviz.*

Last week’s number was revised up 3,000 to 437K.

Futures were up around 0.7% on the QE rush, and don’t appear to be moving on the jobs report.

This is the last look at employment before the big national jobs report on Friday, and it just gave us more of the same weak claims data around the 450,000 range as we’ve had this year.

But a few bright spots include yesterday’s strong ADP payroll report.

(Note it had initially appeared to meet expectations of 456,000 shown by Finviz.)

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