Initial jobless claims dip
- Prior month
- Initial jobless claims 242K versus 254K estimate
- 4-week MA of the initial jobless claims 244.25K versus 245.25K last month
- Continuing claims 1.799M vs 1.818M estimate. Last week 1.807M revise from 1.813M last week.
- 4-week moving average of the continuing claims was 1.813M vs 1.828M last week
Looking at the continuing claims, the data is showing a sideways to down trend over the last few months. That is indicative of workers finding new jobs even if they are let go.
Continuing claims move sideways
The data this week corresponds with the BLS jobless survey for the employment report to be released on the 1st Friday of next month.
The data for the initial jobless claims does not back up the prior week's sharp rise. Employment situation remains fairly solid.