Initial jobless claims rise by 12K to 293K

Initial jobless claims rise by 12K to 293K; HOPE NOW: Mortgage industry achieves 24M solutions and 6M loan mods; Signs point to tepid September job creation; negative equity rate drops at a record pace; Here’s how a dodgy network of commercial mortgage brokers may cost Morgan Management their multifamily empire

Initial jobless claims dropped to 280,000 for the week ending Sept. 13, dramatically better than expectations of 305,000, the lowest since 2000. The prior week was upwardly revised leaving a.

This week’s report on initial jobless claims was actually a bit disappointing. While economists were expecting claims to tick up to 210K, the actual reading came in at 214K. This week’s increase represents the largest one week rise in claims since May and put the actual reading at the highest level in a month.

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Jobless Claims Rise Again. While economists were expecting first-time claims to come in at a level of 278K, the actual reading came in at 293K. That’s the highest weekly reading since July. At the rate things are going, the 46-week streak of sub 300K weekly readings may not have much longer to go.

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U.S. initial jobless claims rose U.S. initial jobless claims rose 11k to 234k in the week ended May 19. That follows the 12k rise to 223k in the May 12 week which corresponded with the BLS survey week.

However, the European bulls gave way to a slide with a resurgence in the greenback that extended its gains on the US data breaking back below the 1.1720 38.2% Fibo of the june-sept rise. limited..

This morning’s seasonally adjusted 209K new claims, down 12K from the previous week’s revised 222K, was better than the Investing.com forecast of 220K. Here is a close look at the data over the decade (with a callout for the past year), which gives a clearer sense of the overall trend in relation to the last recession.

Well as the initial transition from full employment to below full employment happened you’d see a lot of new unemployment claims. But as time wears on you’d see few new claims. If the ‘new normal’ is 10% unemployment for the next 20 years well you won’t see lots of new claims.

According to Karen Cordes, an economist from Scotia Capital, the rise comes from higher commodity prices. 8:30 US Trade Balance FEB Exp: -$57.5B Prior: -$58.2B 8:30 US Initial Jobless Claims 5-Apr.

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