Jobless Claims: Steady on Seasonally Adjusted Basis

Bottom Line: While initial claims declined just slightly again, the potential for volatility in the coming weeks remains high as the non-seasonaly adjusted tally rose 100k last week after falling 50k in the Thanksgiving week. The 4-week average is at 242k, below the 13-week average that is now 246k, indicating the labor market trends remain solid on a trend basis. Jobless Claims FELL by 2k during the week ended December 2nd, 236k, compared with market expectations for an increase to 240k.The 4-week average FELL by 0.8k to 242k and the 13 week average FELL by 4.8k to 246k. Continuing Claims FELL by 52k during the week ended November 25th to 1,908k, after the prior week was revised slightly higher from 1,904k to 1,960k.The 4-week average ROSE by 1k to 1,913k. On a non-seasonally adjusted basis, Continuing Claims ROSE by 333k to 1,948k during the week ended November 18th. The Insured Jobless Rate STAYED at 1.4% during the week ended November 25th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.