Jobless Claims: Fall Again
May 4, 2017
Bottom Line: After a jump due to claims in New York and Massachusetts, claims fell, nearly reaching their recent lows in the final week of April. The 4-week average is at 243k, below the 13-week average that is now 245k, indicating the labor market trends are still improving modestly.
Jobless Claims FELL by 19k during the week ended April 29th, 238k, compared with market expectations for a decline to 248k.The 4-week average ROSE by 0.8k to 243k and the 13 week average FELL by 0.9k to 245k.
Continuing Claims FELL by 23k during the week ended April 22nd to 1,964k, after the prior week was revised slightly lower from 2,052k to 1,987k.The 4-week average FELL by 18k to 1,989k. On a non-seasonally adjusted basis, Continuing Claims FELL by 78k to 1,936k during the week ended April 15th.
The Insured Jobless Rate STAYED at 1.4% during the week ended April 22nd. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.
Article by Contingent Macro Advisors