Initial Jobless Claims Economic News

Dated: 11/01/2016

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Layoffs continued to drop, with first-time claims for unemployment benefits filed by the newly unemployed during the week ending October 22 dipping to 258,000, a drop of 3,000 claims from the preceding week’s total of 261,000, the Employment and Training Administration reported last week. That said, the four-week moving average— considered a more stable measure of jobless claims — actually ticked up to 253,000 claims, a rise of 1,000 from the prior week’s average of 252,000.Claims for the week ending October 22 marked the 86th straight week of initial jobless claims staying below 300,000, a mark economists consider an indicator of a growing job market. This is the longest such streak since 1970.This week we can expect:Monday — Personal incomes and spending for September from the Bureau of Economic Analysis.Tuesday — Construction spending for September from the Census Bureau; car and truck sales for October from the auto manufacturers.Thursday — Initial jobless claims for last week from the Employment and Training Administration; factory orders for September from the Census Bureau.Friday — September balance of trade from the Census Bureau and the Bureau of Economic Analysis; October unemployment rate, payrolls, hourly earnings and average workweek from the Bureau of Labor Statistics.

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Don Fleming

Don Fleming has been practicing real estate for more than 10 years , with the primary goal to become a trusted advisor for his clients. He specializes in new construction, where he leverages his exten....

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