WASHINGTON — Initial jobless claims were down 10,000 to 316,000 for the Nov. 23 week. These were in a second drop, but the Veterans Day holiday last week and the late timing of the Thanksgiving holiday probably are making the readings unreliable.

Unemployment claims probably reflect bad seasonal adjustment because Thanksgiving is a week later than usual. Unadjusted claims were up 37,229. The adjustment turned this into the reported decline.

Continuing claims were down 91,000 to 2.776 million for the Nov. 16 week, but that reflects the Veterans Day holiday.

Market News International is a real-time global news service for fixed-income and foreign exchange market professionals. See www.marketnews.com.


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