Photo: Flickr Bernard Pollack
UPDATE: Initial jobless claims jumped to 386K, missing analyst expectations for 365K.Last week’s numbers were revised slightly higher, from 350K to 352K.
This is yet another sour economic data point in a string of negative data lately.
Continuing claims also rose to 3314K from a revised 3313K last week, also missing expectations.
Analysts are concerned that positive momentum we saw early this year could be fading in the U.S., and this number isn’t likely to bolster confidence.
ORIGINAL: In just a few minutes we’ll have our latest read on initial jobless claims.
Analysts polled by Bloomberg expect that 365K reports have been filed in the last week on a seasonally adjusted basis, an increase from 350K the week before.
That 350K number positively surprised analysts last week, who had expected a far worse data point amid a slew of negative economic data.
The latest number comes out at 8:30 AM ET.
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