Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle SeasonalStock Market Awaiting the Bonds Panic to trigger QE4Ever - 30th April 25 Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stock Market Awaiting the Bonds Panic to trigger QE4Ever - 30th April 25
US Bond Market Panic Continues Towards May Expected Japanese Rate Hike Volatility Spike - 24th April 25
Stock Market Tarrified as President Dump Risks Turning Recession into Stagflationary Depression - 21st April 25
President Dump Delivers BEAR MARKET - Stock Market Battles Between Order and Chaos - 7th April 25
Stocks Bull Market End Game Bear Start Strategy - 20th Mar 25
Gold and System Collapse: Charting the Bank Run of the Mighty US Dollar - 20th Mar 25
Tesla's Troubles — Is it Musk or is it More? - 20th Mar 25
The Stock Market Bear / Crash indicator Window - 9th Mar 25
Big US Tech Stocks Fundamentals - 9th Mar 25
No Winners When The Inflation Balloon Pops - 9th Mar 25

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

U.S. Labor Market Musings Prior to the November Employment Report

Economics / Unemployment Dec 03, 2010 - 03:05 AM GMT

By: Asha_Bangalore

Economics

Best Financial Markets Analysis ArticleLabor market indicators are sending a mixed message.  Today's jobless claims report continues to suggest that the economic recovery is not sufficiently strong to bring about a meaningful reduction in the number of jobless claims.  Initial jobless claims rose 26,000 to 436,000 during the week ended November 27. 


On a year-to-year basis, seasonally unadjusted initial jobless claims fell 10.3% (see Chart 4).  It is important to note that the year-to-year change in initial jobless claims is less negative than recent weekly readings.  Year-to-year changes should be increasingly negative as the economy recovers, which is not current situation.  Continuing claims, which lag initial jobless claims by one week, moved up 53,000 to 4.27 million and the insured unemployment rate has held at 3.4% for three straight weeks.  Unemployment claims under special programs increased 235,332 for the week ended November 13. 

At the same time, private sector nonfarm payrolls have advanced in the first ten months of the year, adding 1.11 million jobs.  But, the jobless rate has hovered between 9.5% and 9.6% in the last five months.  The November employment report is predicted to show a slightly higher unemployment rate (9.7%) and an addition of 150,000 private sector payroll jobs. 

Asha Bangalore — Senior Vice President and Economist

http://www.northerntrust.com
Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.

Copyright © 2010 Asha Bangalore

The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in