New filings for unemployment benefits rose more than expected last week, according to this morning’s update from the Labor Department. Jobless claims jumped 12,000 to a seasonally adjusted 290,000 for the week through Nov. 8—the highest since late-September. The latest numbers look a bit worrisome, but reviewing today’s figures in historical context suggests that a positive tailwind is still blowing for the US labor market.
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US retail sales are expected to rise 0.3% in tomorrow’s October report vs. the previous month, according to The Capital Spectator’s median econometric forecast. The prediction reflects a substantial rebound in growth vs. the previous month’s 0.3% decrease.
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