Economists estimate that claims for unemployment insurance totaled 275,000 last week, down from 281,000 in the previous period, according to Bloomberg.
Here's a preview of the data from a note to clients last week by UBS' Kevin Cummins: "Despite a rise in the last week of June, initial jobless claims continue to trend sideways at low levels. We forecast a drop in the upcoming week, although claims can be especially volatile around this time of year because of seasonal adjustment problems relating to annual summer shutdowns (particularly in the auto sector) and the timing of Independence Day."
"These uncertainties make the data series very unreliable as an indicator of the direction of labor market conditions at this time of year."
We'll be back with all the details once they cross at the bottom of the hour.