The Labor Department’s weekly release on initial jobless claims will be out at 8:30 a.m. ET.
Economists forecast that first-time filings for unemployment insurance fell last week by 13,000 to 255,000, according to Bloomberg. Last week, the total number had not crossed 300,000 for 91 straight weeks.
Claims offer a real-time look into the rate of layoffs and job losses, since many people file for benefits soon after they lose their jobs. This data series, at the lowest level since the 1970s, has been proof of the labor recovery after the recession and the reduction of slack in the market.