Jobless Claims Rise But Not By Much

We’re less than 24 hours away from tomorrow’s jobs report. One more missing piece came out today and that was the most recent report on jobless claims.

The Labor Department reported that jobless claims rose by 8,000 to a seasonally adjusted rate of 362,000. Wall Street had been expecting 351,000.

The four-week moving average is now 355,000. Going by the rough analysis I gave yesterday, this points to a major gain for tomorrow’s non-farm payroll report.

As I’ve been saying, if the number tomorrow comes in over 300,000, this will have a major impact on the stock market, the Fed and the election.

Posted by on March 8th, 2012 at 11:41 am


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