Jobless Claims: Solid Labor Trends
February 2, 2017
Bottom Line: As seasonal adjustments finally begin to have less impact on claims data, initial claims neared their lows again at the end of January. The 4-week average is at 248k, below the 13-week average that is now 253k, indicating the labor market trends are still improving modestly.
Jobless Claims ROSE by 22k during the week ended January 21st, 259k, compared with market expectations for an increase to 252k. The prior week was revised slightly lower from 247k to 237k. The 4-week average FELL by 2.0k to 246k and the 13 week average was UNCHANGED at 254k.
Continuing Claims ROSE by 41k during the week ended January 14th to 2,100k, after the prior week was revised slightly lower from 2,087k to 2,059k.The 4-week average FELL by 1k to 2,092k.
On a non-seasonally adjusted basis, Continuing Claims FELL by 57k to 2,462k during the week ended January 7th. The Insured Jobless Rate STAYED at 1.5% during the week ended January 14th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.
Article by Contingent Macro Advisors