*SCALPSWINGSTRADDLE*

[Zephyr]

Jobless Claims - miss
Released On 4/24/2014 8:30:00 AM For wk4/19, 2014
Prior Prior Revised Consensus Consensus Range Actual
New Claims - Level 304 K 305 K 313 K 310 K to 335 K 329 K
4-week Moving Average - Level 312.00 K 312.00 K 316.75 K
New Claims - Change 2 K 4 K 24 K
Highlights
The big improvement in initial jobless claims proved brief, only two weeks with the latest data jumping 24,000 to 329,000 in the April 19 week. The gain lifts the 4-week by 4,750 to a 316,750 level that is barely lower than the month-ago comparison.

A plus is that continuing claims, in data that lag a week, continue to move lower, down 61,000 to a recovery low of 2.680 million in the April 12 week. The 4-week average, at a recovery low of 2.752 million, is roughly 100,000 below the month-ago comparison. At a new recovery low is the unemployment rate for insured workers, down 1 tenth to 2.0 percent.

Easter shifts can play havoc with adjustments and may be at play the last two weeks, at least for initial claims. Today's report, despite the improvement in continuing claims, is a disappointment and could ease expectations for improvement in the April employment report.