Here come initial jobless claims…

Mervin Sealy from Hickory, North Carolina, takes part in a protest rally outside the Capitol Building in Washington, October 5, 2011. Demonstrators were demanding that Congress create jobs, not make budget cuts during the protest.
Reuters/Jason Reed

The latest read on the health of the US labor market will be out at 8:30 a.m. ET.

Economists forecast that initial jobless claims, which could the number of people who applied for unemployment insurance for the first time, fell to 241,000.

Last week, claims fell less than expected to 245,000, according to the Labor Department. Economists expected a drop to 240,000.

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.