U.S. initial jobless claims for the week ending November 7 were 709,000, a decline of 48,000 from the previous week’s revised level, and below the estimated 731,000, according to the Department of Labor press release. Continuing claims were 6.79 million, down from the expected 6.83 million.
- Prior initial jobless claims revised higher from 751,000 to 757,000
- Prior continuing claims revised lower from 7.285 million to 7.222 million
- The 4-week moving average was 755,300, down from the previous 788,500
- Unadjusted advance actual claims under state programs were 723,105, down 2.8% or 20,799 from the previous week
U.S. stocks are mixed. SPY is down 0.17%, QQQ: NASDAQ is up 0.47%
