Jobless Claims: Near July Lows Again

Bottom Line: Initial claims fell slightly last week, better than expectations for a slight increase. These data are for the survey week for the August Employment Situation report, and this weekly figure is nearly at the same level as July's survey week, while the 4-week average is modestly lower than than in July. The 4-week average is at 216k, below the 13-week average that is now 218k, indicating the labor market trends continue to improve. Jobless Claims FELL by 2k during the week ended August 18th, 210k, compared with market expectations for an increase to 215k.The 4-week average ROSE by 1.0k to 216k and the 13 week average FELL by 1.8k to 218k. Continuing Claims FELL by 2k during the week ended August 11st to 1,727k, after the prior week was revised slightly lower from 1,745k to 1,729k.The 4-week average FELL by 5k to 1,736k. On a non-seasonally adjusted basis, Continuing Claims FELL by 59k to 1,671k during the week ended August 4th. The Insured Jobless Rate STAYED at 1.2% during the week ended August 11st. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.