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Jobless Claims: Holding At Trend

June 22, 2017
Bottom Line: Initial claims climbed slightly last week. The 4-week average is now 245k, just slightly above the 13-week average of 242k. While sometimes an indicator of a turn in trend, most of the move higher in the 4-week average is due to seasonal adjustments around the Memorial Day holiday. Overall labor market trends remain positive as claims sit near record lows.

Jobless Claims ROSE by 3k during the week ended June 17th, 241k, compared with market expectations for an increase to 240k.The 4-week average ROSE by 1.5k to 245k and the 13 week average FELL by 1.5k to 242k.

Continuing Claims ROSE by 8k during the week ended June 10th to 1,944k, after the prior week was revised slightly higher from 1,917k to 1,936k.The 4-week average ROSE by 5k to 1,932k.

On a non-seasonally adjusted basis, Continuing Claims ROSE by 13k to 1,798k during the week ended June 3rd.

The Insured Jobless Rate STAYED at 1.4% during the week ended June 10th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.