Initial jobless claims rose to 287,000.
The expectation was for 285,000.
Ian Shepherdson, the chief economist at Pantheon Macroeconomics, wrote in a note, “…claims are already low enough, when coupled with mostly-robust indicators of the pace of hiring, to signal payroll gains of 250K-plus over the next few months. If that happens, the unemployment rate will continue to fall rapidly and its collision with the 5.5% top of the Fed’s Nairu range will come early next year, a year ahead of FOMC forecasts. No wonder they changed the labour market language yesterday; they had to.”
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