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Here come initial jobless claims ...

Akin OyedeleOct 20, 2016, 17:46 IST

Flickr / Public Information Office

The Department of Labor will release its weekly reading on initial jobless claims at 8:30 a.m. ET.

Economists forecast that first-time filings for unemployment insurance rose by 4,000 to 250,000 last week, according to Bloomberg.

The four-week moving average of claims, which evens out the week-by-week volatility, fell to 244,000 last week, the lowest level since November 3, 1973.

Initial jobless provide an early indicator of a labor-market downturn because layoffs precede filings for unemployment insurance.

More to come ...

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