Weekly Unemployment Claims (every Thursday)
This morning’s first piece of economic data was last week’s unemployment figures at 8:30 AM ET. They showed that 870,000 new claims for benefits were filed last week, up from the previous week’s revised 866,000. However, forecasts were calling for a decline to 840,000 new filings. The slight increase and higher than expected number of claims indicate the employment sector was weaker than thought last week, making the data good news for bonds and mortgage rates.