Initial claims for U.S. state unemployment benefits rose 18,000 to 409,000 in the January 1 holiday week, the U.S. Labor Department reported Thursday. Economists polled by MarketWatch had expected initial claims in the week of Jan. 1 to total about 400,000 on a seasonally adjusted basis. The prior week’s number was revised up by 3,000 to 391,000.
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Tomorrow’s jobs report should be interesting. ADP released a very optimistic report earlier this week, but the accuracy is questionable.