Here come initial jobless claims ...

The latest weekly data on initial jobless claims will cross at the bottom of the hour.

Economists forecast that claims totaled 285,000 last week, according to Bloomberg.

In the prior period, the number of claims filed for jobless benefits rose to 297,000, the highest since the week of February 28. Economists noted that the annual auto retooling shutdowns likely boosted claims.

In a preview, UBS’ Sam Coffin wrote, “With limited auto plant shutdowns this year, we forecast a reversal in claims in the upcoming week. The July 4 holiday may also have contributed to the latest week’s rise.”

We’ll be back with the details once they cross.

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