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Jobless Claims: Record Lows

February 9, 2017

Bottom Line: Initial jobless claims hit their lowest levels since November 3, 1973, according to the Department of Labor. There were no unusual factors or significant seasonal adjustments. The 4-week average is at 244k, below the 13-week average that is now 251k, indicating the labor market trends are still improving modestly.

Jobless Claims FELL by 12k during the week ended February 4th, 234k, compared with market expectations for an increase to 250k. The 4-week average FELL by 3.8k to 244k and the 13 week average FELL by 1.5k to 251k.

Continuing Claims ROSE by 15k during the week ended January 28th to 2,078k, after the prior week was revised slightly lower from 2,100k to 2,063k.The 4-week average FELL by 4k to 2,076k. On a non-seasonally adjusted basis, Continuing Claims FELL by 13k to 2,481k during the week ended January 21st.

The Insured Jobless Rate STAYED at 1.5% during the week ended January 28th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.

Article by Contingent Macro Advisors