Weekly Unemployment Claims (every Thursday)
Kicking off this morning’s three economic releases was last week’s unemployment figures at 8:30 AM ET. They revealed that 787,000 new claims for unemployment benefits were filed last week. This was a decline from the previous week’s downwardly revised 842,000 initial filings and below forecasts of 860,000. The decline is a sign that the employment sector improved last week but still remains troubled. Because the numbers indicate stronger than expected conditions in the sector, we need to consider the data unfavorable for bonds and mortgage rates.