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Jobless Claims: slight rise after hitting 5-week low

September 1, 2016
Bottom Line: Initial claims rose slightly and after hitting their lowest level since mid-July. The 4-week average is at 263k, in-line with the 13-week average, indicating the labor market trends are still improving but losing momentum.

Jobless Claims ROSE by 2k during the week ended August 27th to 263k, compared with market expectations for a decline to 265k.

The 4-week average FELL by 1k to 263k and the 13 week average was UNCHANGED at 263k. Initial claims have been on a declining trend over the past 6 years but the pace of decline has now slowed.

Continuing Claims ROSE by 14k during the week ended August 20th to 2,159k, The 4-week average ROSE by 5k to 2,160k. Despite this week's increase, continuing claims have also been on a declining trend for more than 6 years. On a non-seasonally adjusted basis, Continuing Claims FELL by 39k to 2,023k during the week ended August 13th.

The Insured Jobless Rate STAYED at 1.6% during the week ended August 20th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.
Article by contingentmacro