Initial Unemployment Filings – Nov 09 December 3, 2009Posted by geoff in News.
Tomorrow is the bestest day of the month, at least blog-wise. Yep, tomorrow the unemployment numbers come out again. Over the past few months I’ve been showing the history of initial unemployment claims on the day before the release, so here you go:
There was a quite a reduction in initial claims in the past two weeks – it’s the first time it’s been below 500,000 in 11 months. That’s good news, though I think it’s a little anomalous – we’re more likely to get back on the track we’ve been on for the past 8 months, with a slow but hopefully steady decline in filings.
What should we expect for tomorrow? Calculated Risk tells us that:
The BLS reports Friday, and the consensus is for 100,000 net jobs lost, and a 10.2% unemployment rate for November.
And here’s a little extra nugget for ya: Goldman-Sachs predicts that unemployment will peak in 2011 at 10.75%.