Jobless Claims Continue To Fall

December 3, 2020

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Election Uncertainty, Lockdowns Begin To Harm American Economy...ADP Employment Misses Big — *Forming Bread Line at Jefferson Square, NYC 1906*

There is one thing the corporate business media can't deny - Americans are going back to work. Initial and Continuing Jobless Claims beat estimates handily this morning's economic indicator data dump.

Services PMI data released were a mixed bag but show continued growth. Inflation is returning as well.

Financial markets are up on Congress finally looking to make a deal on further pandemic stimulus.

Oil prices slumped after OPEC+ reached an agreement for production to increase over time.

Challenger Job Cuts (Nov) printed at 64.797k.

Continuing Jobless Claims (Nov 20) printed at 5.52M vs 5.915M consensusI estimate.

Initial Jobless Claims (Nov 27) printed at 712k vs 775k estimate.

Initial Jobless Claims 4-week average (Nov 27) printed at 739.5k.

Markit Services PMI (Nov) printed at 58.4.

Markit PMI Composite (Nov) printed at 58.6.

ISM Services New Orders Index (Nov) printed at 57.2 vs 49.6 estimate.

ISM Services PMI (Nov) printed at 55.9 vs 56 estimate.

ISM Services Employment Index (Nov) printed at 51.5 vs 50.9 estimate.

ISM Services Prices Paid (Nov) printed at 66.1 vs 61.6 estimate.

EIA Natural Gas Storage Change (Nov 27) printed at -1B vs -23B estimate.

Author

CDM Staff

The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."