Weekly Unemployment Claims (every Thursday)
Today’s sole economic release was last week’s unemployment update at 8:30 AM ET. It revealed that 1.314 million new claims for unemployment benefits were filed last week, down from the previous week’s revised 1.413 million. Forecasts were calling for approximately 1.35 million, so the variance is minimal. The downward trend continues in new claims, but the number filed every week remains extremely high. Because rising claims is a sign of a weak employment sector, we can consider the data slightly positive for rates.