Claims are for the NFP survey week ...
Saw this from BMOs morning commentary and thought it worth noting AHEAD of the days data dump,
… We would be remiss not to acknowledge Thursday’s jobless claims figures if only given the initial filing report will cover the NFP survey period for December. With the first week of trading in 2022 capped by the jobs report on Friday the 7th, the process of pricing to the consensus for NFP will be aided by the claims data following the narrowing labor differential revealed in the Conference Board data. Arguably of greater consequence than the headline job gains themselves will be the participation rate and further clarity on the progress being made (or not) in addressing the labor shortages that continue to distort the jobs landscape. In keeping with one of the primary theme’s of the pandemic, we’re somewhat cautious of taking too much information from the release if only given the fluidity of the situation surrounding omicron and the fallout from the pandemic’s most recent wave that may not be fully reflected in the data … -2022, not 2020 Too (we hope)
And now back to our previously scheduled morning routines …