Jobless Claims: Unchanged, Near 50-Year Lows

Bottom Line: Initial claims were unchanged last week, holding near their lowest levels in 50 years . The 4-week average is at 216k, below the 13-week average that is now 224k, indicating continued labor market strength and a reluctance on the part of employers to lay off workers. Jobless Claims were UNCHANGED during the week ended May 5th, 211k, compared with market expectations for an increase to 225k.The 4-week average FELL by 5.5k to 216k and the 13 week average FELL by 0.9k to 224k. Continuing Claims ROSE by 30k during the week ended April 28th to 1,790k, after the prior week was revised modestly lower from 1,871k to 1,760k.The 4-week average FELL by 22k to 1,813k. On a non-seasonally adjusted basis, Continuing Claims FELL by 19k to 1,720k during the week ended April 21st. The Insured Jobless Rate ROSE by 0.1% to 1.3% during the week ended April 28th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.