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US jobless claims at solid levels ahead of November employment report

 

Initial jobless claims rebounded to 269k in the week ending November 28 (previous: 260k), in line with forecast  and consensus expectations. The four-week moving average of initial claims ticked down to 269k from 271k the prior week.

Continuing jobless claims for the week ending November 21 rose a bit to 2.161mn, though from a downwardly revised prior week reading of 2.155mn (initial: 2.207mn).

The four-week average of continuing claims now stands at 2.167mn (previous: 2.169mn) with the insured unemployment rate unchanged at 1.6%. The Labor Department noted that jobless claims data for Louisiana were estimated for the third week in a row due to computer issues.

"We look for nonfarm payroll gains of 200k and a one-tenth decline in the unemployment rate, to 4.9%", says Barclays.

 

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