Jobless Claims: Steady Into Holiday Week

Bottom Line: Claims were unchanged in the week ended December 23rd as the seasonal factor was in-line with the 34k increase in unadjusted claims last week. On a trend basis the data suggest labor markets continued to improve modestly in December. The 4-week average is at 238k, just below the 13-week average that is now 239k. Jobless Claims were UNCHANGED during the week ended December 23th, 245k, compared with market expectations for a decline to 240k.The 4-week average ROSE by 1.8k to 238k and the 13 week average FELL by 1.8k to 239k. Continuing Claims ROSE by 7k during the week ended December 16th to 1,943k, after the prior week was revised slightly higher from 1,932k to 1,936k.The 4-week average FELL by 4k to 1,920k. On a non-seasonally adjusted basis, Continuing Claims ROSE by 13k to 1,978k during the week ended December 9th. The Insured Jobless Rate STAYED at 1.4% during the week ended December 16th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.