The Department of Labour’s latest report on
weekly unemployment insurance claimsis out.
Claims dropped to 323,000 from 332,000 a week ago.
Economists were looking for a reading of 330,000.
“[T]he fact that jobless claims have been consistently below 350k — a key level that has been commensurate with 200kplus
nonfarm payroll growth in the past — bodes well for Friday’s report,” said Deutsche Bank’s Brett Ryan in a note before the release.
Today’s number was just a hair about 322,000, the level reached three weeks ago, which was also the lowest level since January 2008.
The four-week moving average has fallen to 328,500, down from 331,500 a week ago. This is the lowest level since October 2007.