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Unemployment Claims unexpectedly increased to 275,000

Thursday, Dec 22 2016
Unemployment Claims unexpectedly increased to 275,000

In the week ending December 17, the advance figure for seasonally adjusted initial claims was 275,000, an increase of 21,000 from the previous week's unrevised level of 254,000. The 4-week moving average was 263,750, an increase of 6,000 from the previous week's unrevised average of 257,750. There were no special factors impacting this week's initial claims. This marks 94 consecutive weeks of initial claims below 300,000, the longest streak since 1970.

Separate report showed that real gross domestic product increased at an annual rate of 3.5 percent in the third quarter of 2016, according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 1.4 percent.  With this third estimate for the third quarter, nonresidential fixed investment, personal consumption expenditures (PCE), and state and local government spending increased more than previously estimated, but the general picture of economic growth remains the same.

 

Euro is currently being traded around 1.0420 level, Sterling is below 1.23 handle, while Aussie is around 0.72 area.

More in this category: « German Import Prices rose 0.7% Durable Goods Orders down by 4.6% »

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