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Jobless Claims: Slight Rebound, No Change in Trend

February 15, 2018

Bottom Line: After hitting their lowest level since March, 1973, claims rebounded modestly in the week ended Feb 10. All of the gain was accounted for by seasonal adjustments, though. And the trend remains down -- the 4-week average is at 229k, below the 13-week average that is now 236k.

Jobless Claims ROSE by 7k during the week ended February 10th, 230k, compared with market expectations for an increase to 228k.The 4-week average ROSE by 3.5k to 229k and the 13 week average FELL by 1.7k to 236k.

Continuing Claims ROSE by 15k during the week ended February 3rd to 1,942k, after the prior week was revised slightly higher from 1,923k to 1,927k.The 4-week average FELL by 6k to 1,941k.

On a non-seasonally adjusted basis, Continuing Claims ROSE by 7k to 2,317k during the week ended January 27th.

The Insured Jobless Rate STAYED at 1.4% during the week ended February 3rd. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.

Article by Contingent Macro Advisors