Weekly US jobless claims rises to 200K
- Prior week 180K revised to 181K
- Initial jobless claims 200K vs 179.75K estimate
- 4 week moving average of initial jobless claims 188KK vs 180K last week.
- Continuing claims 1.384M vs 1.400M estimate. Prior week 1.408M revised to 1.403M. The data is the lowest since January 17, 1970
- 4 week moving average of continuing claims 1.417M vs. 1.453M. The MA is the lowest since February 21, 1970
- The largest increases in initial claims for the week ending April 23 were in New York (+4,760), Massachusetts (+3,491), Connecticut (+1,045), Georgia (+932), and New Jersey (+888),
- The largest decreases were in California (-2,860), Ohio (-2,609), Michigan (-1,887), Washington (-475), and Minnesota (-453).
Under the radar yesterday was an announcement that Facebook would reduce hiring as revenue growth slows and inflation concerns increase. Employment is lagging indicator. Will that lag manifests itself in some of the jobs data going forward?