Jobless Claims: Near Lows Again

Bottom Line: Claims fell again last week, nearly hitting record lows again. The trend in labor markets remains solid as the the 4-week average is at 226k, below the 13-week average that is now 235k. The Department of Labor once again noted that claims taking procedures in Puerto Rico and the USVI have still not returned to normal. Jobless Claims FELL by 7k during the week ended February 17th, 222k, compared with market expectations for an increase to 230k.The 4-week average FELL by 2.3k to 226k and the 13 week average FELL by 1.4k to 235k. Continuing Claims FELL by 73k during the week ended February 10th to 1,875k, after the prior week was revised slightly higher from 1,923k to 1,948k.The 4-week average FELL by 16k to 1,927k. On a non-seasonally adjusted basis, Continuing Claims FELL by 62k to 2,262k during the week ended February 3rd. The Insured Jobless Rate FELL by 0.1% to 1.3% during the week ended February 10th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.