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Jobless Claims: Steady at Low Levels

August 3, 2017
Bottom Line: Seasonal adjustments remain the source of even the modest volatility we've seen from week to week in the initial jobless claims. Looking at longer-term averages reveals a remarkably steady labor market. The 4-week average is at 242k, almost exactly in-line with the 13-week average.

Jobless Claims FELL by 5k during the week ended July 29th, 240k, compared with market expectations for a decline to 243k.The 4-week average FELL by 2.5k to 242k and the 13 week average ROSE by 0.2k to 242k.

Continuing Claims ROSE by 3k during the week ended July 22nd to 1,968k, after the prior week was revised slightly lower from 1,977k to 1,965k.The 4-week average ROSE by 1k to 1,965k. On a non-seasonally adjusted basis, Continuing Claims FELL by 35k to 1,940k during the week ended July 15th.

The Insured Jobless Rate STAYED at 1.4% during the week ended July 22nd. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.