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Last Update: 17-Nov-11 09:40 ET
Initial Claims Fall to their Lowest Level Since April
The initial claims level declined from 393,000 for the week ending Nov. 5 to 388,000 for the week ending Nov. 12. The Briefing.com consensus expected the initial claims level to increase to 398,000.
This is the lowest level of initial claims since April.
Normally, a claims level below 410,000 would suggest that nonfarm payroll growth should exceed the 100,000 necessary to support normal labor force growth. Even though businesses have slowed the number of layoffs, they have been reluctant to hire new workers. Instead of expecting 100,000 new jobs, we now expect gains of only 75,000.
The continuing claims level declined from 3.665 mln for the week ending Oct. 29 to 3.608 mln for the week ending Nov. 5. The consensus expected the continuing claims level to fall to 3.648 mln.
This is the lowest level of initial claims since April.
Normally, a claims level below 410,000 would suggest that nonfarm payroll growth should exceed the 100,000 necessary to support normal labor force growth. Even though businesses have slowed the number of layoffs, they have been reluctant to hire new workers. Instead of expecting 100,000 new jobs, we now expect gains of only 75,000.
The continuing claims level declined from 3.665 mln for the week ending Oct. 29 to 3.608 mln for the week ending Nov. 5. The consensus expected the continuing claims level to fall to 3.648 mln.
