Weekly Unemployment Claims (every Thursday)
Last week’s unemployment figures were also posted early this morning, revealing 400,000 new claims for benefits were filed during the week. This was a decline from the previous week’s revised 424,000 initial filings, but higher than forecasts. Declining claims is a sign of strength in the employment sector. However, the fact they came in higher than expected offsets the decline. Accordingly, we are labeling the release as neutral for rates.