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Initial Jobless Claims Spike on Sandy Irregularities
MINYANVILLE ORIGINAL Overnight trading in equity futures stayed in a tight range before volatile trading following the initial jobless claims report at 8:30 a.m. EST. Initial claims for unemployment insurance showed a large jump to 439 000 from last month's 361 000 well ahead of expectations of 375 000. The large jump was attributed to a lack of claims from New York state last week due to a loss of electricity in government buildings. Thus the claims this week included two weeks from New York not to mention an already exaggerated number due to unemployment claims associated with the ...
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