Stock futures were little changed this morning, despite better than expected jobs market data.
The number of initial weekly jobless claims dropped 11,000 to 445,000. The number was slightly better than the 455,000 expected by economists. Continuing claims declined 48,000 to 4.46 million. A separate report that analyzes online job demand also showed strength this month. Both reports point to improvement in the job market and should help calm nerves following yesterday’s disappointing ADP report. Tomorrow’s employment situation will provide more detail on the labor market.
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