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Jobless Claims: Very Little Change

September 26, 2019

Bottom Line: Initial claims climbed slightly again in the week ending September 21. The 4- week average, though, is still just below the 13-week average, suggesting a continued slight improvement in the trend. Overall, claims have been remarkably steady at very low levels, despite uncertainty in many sectors of the economy.

Jobless Claims ROSE by 3k during the week ended September 21st, 213k, compared with market expectations for an increase to 215k. The 4-week average FELL by 0.8k to 212k and the 13 week average FELL by 1.2k to 214k.

Continuing Claims FELL by 15k during the week ended September 14th to 1,650k, after the prior week was revised slightly lower from 1,676k to 1,665k.The 4-week average FELL by 13k to 1,666k.

On a non-seasonally adjusted basis, Continuing Claims FELL by 71k to 1,395k during the week ended September 7th.

The Insured Jobless Rate FELL by 0.1% to 1.1% during the week ended September 14th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.

Article by Contingent Macro Advisors