Jobless Claims: Steady at Low Levels
August 10, 2017
Bottom Line: Volatility of jobless claims remained very low in the latest reading, suggesting labor markets remain steady at historically low levels of total claims for jobless benefits. Looking into the state-level data there were several smaller states that saw an increase last week, suggesting we may begin to see more declines again as some of these seasonal increases work themselves out.
Jobless Claims ROSE by 3k during the week ended August 5th, 244k, compared with market expectations for an increase to 243k.The 4-week average FELL by 1.0k to 241k and the 13 week average ROSE by 0.6k to 243k.
Continuing Claims FELL by 16k during the week ended July 29th to 1,951k, after the prior week was revised slightly higher from 1,964k to 1,967k.The 4-week average ROSE by 1k to 1,965k. On a non-seasonally adjusted basis, Continuing Claims FELL by 24k to 1,916k during the week ended July 22nd.
The Insured Jobless Rate STAYED at 1.4% during the week ended July 29th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.
Article by Contingent Macro Advisors