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Weekly jobless claims unchanged

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Weekly jobless claims unchanged

Results slightly worse than expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended November 6 were 276,000, unchanged from the previous week's figure.  

Analysts had expected claims to fall to 270,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 5,000 to 267,750.

The 4-week moving average remains near a 42-year low, and claims overall have stayed below the 300,000 level for 36 consecutive weeks, both of which indicate a strong labor market in the US.  The apparent strength of the labor market will also undoubtedly play a role in the Fed’s decision on the timing of an interest rate hike.

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