Jobless Claims Drop to 364,000

I like the initial jobless claims report, but it tends to be “noisy.” It can bounce around a lot. Two weeks ago, it rose from 374,000 to 418,000. Then last week, it edged down to 415,000. Today’s report was 364,000. That’s another pandemic low.

This morning’s ISM Manufacturing report came in at 60.6. That was just below expectations of 61. That’s the lowest since January. That’s still a solid number. Any number above 50 means the factory sector is expanding.

The expectation for tomorrow’s jobs report is that the unemployment rate fell to 5.6% and that the U.S. economy created 704,000 net new jobs. The report is due out tomorrow morning.

Posted by on July 1st, 2021 at 1:44 pm


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