Initial jobless claims taking marginally higher
- Prior week 200K revised to 202K
- initial jobless claims 203K vs. 195K estimate
- 4 week moving average of initial jobless claims 192.7 5K vs. 188.5 K last week (revised from 188.0 K)
- continuing claims 1.343 million vs. 1.380 million estimate. Prior week 1.387 million revised up from 1.384 million previously reported. The continuing claims is the lowest since January 3, 1970
- 4 week moving average of continuing claims 1.385M vs. 1.418M. The 4 week moving average is the lowest since January 31 at 1970
- The largest increases in initial claims for the week ending April 30 were in New York (+7,329), Illinois (+3,140), Kentucky (+1,152), Michigan (+1,092), and New Hampshire (+469),
- The largest decreases were in Massachusetts (- 3,029), California (-2,816), New Jersey (-2,466), Connecticut (-2,319), and Ohio (-2,018).
The jobs data is that lagging indicator. It has been taking marginally higher from its lows but still at 200,000 is at very low levels.