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Jobless Claims: Another Decline

May 18, 2017
Bottom Line: Jobless claims fell more than expected last week. While some of the this decline was due to a one-off drop in claims in California, the tally is the lowest since late February. when claims hit a 70-year low. The 4-week average is at 241k, below the 13-week average that is now 244k, indicating the labor market trends are still improving modestly. These data are for the survey week for the May Employment Situation report--the weekly figure is slightly lower than April's survey and the 4-week average is also modestly lower than than in April. suggesting modest faster payroll growth in May.

Jobless Claims FELL by 4k during the week ended May 13th, 232k, compared with market expectations for an increase to 240k.The 4-week average FELL by 2.8k to 241k and the 13 week average FELL by 1.2k to 244k.

Continuing Claims FELL by 22k during the week ended May 6th to 1,898k, after the prior week was revised modestly lower from 2,052k to 1,920k.The 4-week average FELL by 20k to 1,946k.

On a non-seasonally adjusted basis, Continuing Claims FELL by 71k to 1,784k during the week ended April 29th.

The Insured Jobless Rate STAYED at 1.4% during the week ended May 6th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.