Here comes initial jobless claims...

Great Depression soup kitchenWikimedia CommonsUnemployed men queued outside a depression soup kitchen during the Great Depression.

Initial jobless claims will cross the tape at 8:30 a.m. ET.

Economists expect that the number of people filing for new unemployment insurance will come in at 265,000.

Last week the measure of the labour market unexpectedly ticked up to 269,000 claims against expectations of 265,000. The four-week moving average currently sits at 260,250.

If the trend holds, it will continue a streak of weeks below 300,000 that currently sits at 74 straight weeks. This is the longest such streak since 1973.

Stick here and we’ll have the number when it crosses at 8:30 a.m. ET.

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