Initial jobless claims up slightly from previous week

The Labor Department will release the December numbers on Friday with an expected addition of around 150,000 private- and public-sector jobs, according to several estimates. That would be a much more sanguine figure than the 39,000 jobs gained in November. 

The payroll company ADP said on Wednesday that the economy added 297,000 private-sector jobs, a figure nearly three times what was predicted, creating more anticipation for Friday’s government number. ADP’s estimates, if accurate — the firm tends to underscores monthly figures — would likely produce a drop in the unemployment rate, which sits at 9.8 percent and will likely decline slowly.

With unemployment still so high, the Federal Reserve started a $600 billion program to buy Treasuries as a way to accelerate economic growth. 

The number of continuing claims fell by 47,000, to 4.13 million, in the week ended Dec. 25 from an upwardly revised 4.15 million the previous week.