Initial claims number leaves jobs picture murky

I’m glad we cleared that up.

Going into this morning’s 8:30 ET release of the numbers for initial claims for unemployment for the week ended on December 4, the big question was whether or not the data would support the big drop in November job losses—to just 11,000—announced last week. That unexpectedly low number had set off speculation that U.S. unemployment would peak in early 2010 ahead of projections for a mid-year to end-of-year peak.

Well, now we have the answer and it’s a rousing Maybe!

Depending on how you read the data, the economy is as strong as last week’s surprising drop in job losses argues or it’s not.

Here’s why the data is so frustratingly inconclusive. Read more

Job losses slow but still higher than expected

Another 169,000 jobs lost in November.

About the best thing you can say about the report from ADP Employer Services released this morning is that the U.S. economy is shedding jobs at a slower rate. The 169,000 jobs lost in November is the smallest drop since July 2008. Revised figures for October showed 195,000 jobs lost.

On a first read, the stock market doesn’t seem impressed by the trend toward slowing jobs losses. Read more