Here come initial jobless claims...
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Reuters/Jason Reed
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Economists surveyed by Bloomberg forecast that claims, which count the number of people who applied for unemployment insurance for the first time in the past week, fell to 247,000.
Last week, claims rose by 15,000 to 258,000, which marked the first print above 250,000 in eight weeks.
Additionally, the four-week moving average was 240,000, an increase of 1,000 from the prior week's revised average.
Initial jobless claims are used as a real-time proxy for the pace of layoffs and the overall health of the labor market since people usually file for benefits soon after they lose their jobs.
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