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Jobless Claims: Record Lows

March 2, 2017

Bottom Line: Few of our readers were working and many weren't even born the last time claims were this low -- at 223k last week's tally of jobless claims is the lowest since March 31, 1973. While there is a seasonal element with the President's Day holiday, which could have skewed this reading by as much as 18k, the trend continues to improve with the 4-week average falling to 234k versus the 13-week average at 248k.

Jobless Claims FELL by 19k during the week ended February 25th, 223k, compared with market expectations for a decline to 245k. The 4-week average FELL by 6.3k to 234k and the 13 week average FELL by 3.5k to 248k.

Continuing Claims ROSE by 3k during the week ended February 18th to 2,066k, after the prior week was revised slightly higher from 2,060k to 2,063k.The 4-week average ROSE by 1k to 2,071k.
On a non-seasonally adjusted basis, Continuing Claims FELL by 96k to 2,394k during the week ended February 11st.

The Insured Jobless Rate STAYED at 1.5% during the week ended February 18th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.

Article by Contingent Macro Advisors