US Initial jobless claims reviewed – Nomura
Analysts at Nomura offered a review of the US Initial jobless claims ahead of tonights NFP’s data.
“Initial jobless claims remained relatively steady during the week ending 2 December, falling marginally by 2k to 236k. After transitory disruptions from the active hurricane season, claims data are now at or below their pre-hurricane levels. The four-week moving average, a less volatile series, remained unchanged at 242k.”
“Continuing claims declined 52k for the week ending 25 November, a good sign after the increases in the prior two weeks. The insured unemployment rate remained unchanged at 1.4%. Today’s report is consistent with continued strength in the labor market.”