Here come initial jobless claims...

The latest read on initial jobless claims will be out at 8:30 a.m. ET.

Economists forecast that claims, which count the number of people who applied for unemployment insurance for the first time, ticked down by 1,000 to 240,000.

Last week, claims rose to 241,000.

Initial jobless claims are used as a real-time proxy for the pace of layoffs since people usually file for benefits soon after they lose their jobs.

Refresh this page for updates at 8:30 a.m. ET.

NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.