Weekly Unemployment Claims (every Thursday)
Last week’s unemployment update started today’s batch of economic releases at 8:30 AM ET. It revealed 290,000 new claims for unemployment benefits were filed last week, down from the previous week’s revised 296,000. A decline in initial filings is considered a sign of strength in the employment sector, making the number bad news for mortgage pricing. However, this was a minor variance from the 300,000 forecasts and comes in a weekly snapshot. This has prevented a stronger reaction this morning.