Tomorrow’s new claims for unemployment will be nasty, economists project

Tomorrow’s new claims for unemployment will be nasty, economists project

Tomorrow’s report from the Labor Department will show 815,000 American workers filed initial claims for unemployment in the week ended December 12, according to economists surveyed by Bloomberg. That would be an improvement from the 850,000 new claims filed in the prior week but it would extend the break of a seven-week stretch where new claims stayed under 800,000

Tomorrow’s new claims for unemployment will be nasty, economists project

So why wasn’t the market more excited about the drop in new claims for unemployment?

Initial claims for unemployment in regular state programs fell by 75,000 to 712.000 for the week ended November 28. That was the first decline in new claims for unemployment in three weeks. And a big improvement over the 775,000 initial claims that economists had projected before the report from the Labor Department. And stocks barely moved higher on the news. I’d characterize the reaction as a big yawn. What gives?

Initial claims for unemployment climb again

Initial claims for unemployment climb again

The number of Americans filing initial claims for unemployment in regular state unemployment programs climbed by 30,000 in the week ended November 21, the Labor Department reported today, November 25. For the week initial claims in state programs rose to a seasonally adjusted 778,000. Economists surveyed by Reuters had expected 730,000 new claims for the week. This is the second straight week for an increase in new claims for unemployment and adds to other data showing the U.S. economy is slowing under the impact of a new surge in coronavirus infections and a rising number of restrictions on economic activity as states attempt to slow the spread of the virus.

New claims for unemployment dip a miniscule 7,000

New claims for unemployment dip a miniscule 7,000

Today, the Bureau of Labor Statistics announced that the seasonally adjusted number of initial claims for unemployment in regular state programs for the week ended October 31 was 751,000, a decrease of 7,000 from the previous week's revised level. The previous week's...