Initial Jobless Claims Climb To 352,000

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The latest weekly initial unemployment claims report is out, and it’s a bit worse than expected.

Claims climbed to 352,000 from 348,000 a week ago.

Economists were looking for a reading of 350,000.

While disappointing, there was nothing too worrisome about the report.

U.S. stock market futures are up slightly.

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“The claims series has proven to be an excellent directional indicator for equities,” said Jim O’Sullivan of High Frequency Economics.

Here’s a chart we’ve seen frequently:

High Frequency Economics

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