Reuters/Jason Reed
The latest read on initial jobless claims will be out at 8:30 a.m. ET.Economists forecast that claims, which count the number of people who applied for unemployment insurance for the first time, rose slightly to 245,000.
Last week, claims increased by 10,000 to 244,000 from the prior unrevised reading of 234,000, according to the Labor Department. This was above economists' expectations of 240,000.
The four-week moving average clocked in at 243,000, a decrease of 4,250 from the previous week's unrevised average of 247,250.
Continuing claims remain at at 17-year low, in a sign that the job market is still strong. However, initial jobless claims are used as a real-time proxy for the pace of layoffs since people usually file for benefits soon after they lose their jobs.
Refresh this page for updates at 8:30 a.m. ET.