Today’s jobless claims went higher than expected (of course!) to 402,000. This is surprising, considering that last week was a short one because of Thanksgiving. Isn’t this also the time stores are hiring for Christmas?
Last week’s was revised upwards (of course!) from 393,000 to 396,000, so this one is probably higher than 402,000. In addition, continuing claims jumped from 3,705,000 to 3,740,000.
Tomorrow is the monthly labor report. “Experts” are expecting 130,000 new jobs to have been added, however the “whisper number” is said to be much higher at about 180,000. Perhaps I am too much a contrarion, but whenever experts have a number I tend to discount it.