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Jobless Claims: Below Expectations, Solid Trend Continues

May 25, 2017
Bottom Line: Jobless claims were little changed, rising just 1k , better than expected and holding near 70-year lows. There were no major seasonal adjustments but state-level data showed an uptick in Michigan of 1,500 claims, an increase of more than 25% -- such increases typically reverse in the following weeks. Overall, labor market trends remain positive with the 4-week average for claims at 235k, below the 13-week average that is now 243k.

Jobless Claims ROSE by 1k during the week ended May 20th, 234k, compared with market expectations for an increase to 238k.The 4-week average FELL by 5.8k to 235k and the 13 week average FELL by 1.0k to 243k.

Continuing Claims ROSE by 24k during the week ended May 13th to 1,923k, after the prior week was revised moderately lower from 2,052k to 1,899k.The 4-week average FELL by 16k to 1,930k.

On a non-seasonally adjusted basis, Continuing Claims ROSE by 1k to 1,786k during the week ended May 6th.

The Insured Jobless Rate STAYED at 1.4% during the week ended May 13th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.