Thursday, April 10, 2014 8:58:55 AM
Jobless Claims - beats
Released On 4/10/2014 8:30:00 AM For wk4/5, 2014
Prior Prior Revised Consensus Consensus Range Actual
New Claims - Level 326 K 332 K 318 K 310 K to 326 K 300 K
4-week Moving Average - Level 319.50 K 321.00 K 316.25 K
New Claims - Change 16 K 22 K -32 K
Highlights
Easter can play havoc with economic data and may be at play in a stunning 32,000 drop to 300,000 in initial jobless claims for the April 5 week. This is the largest drop in more than 10 years and, though the Labor Department says there no special factors involved, may be due to seasonal adjustments as Easter last year fell on March 31
But it's hard to get around improvement in this report. The 4-week average is down 4,750 to 316,250 which is more than 15,000 below the month-ago reading and which points to tangible improvement in the jobs market.
Continuing claims are also coming down, down 62,000 in lagging data for the March 29 week. The 4-week average is down 19,000 to 2.824 million. The unemployment rate for insured workers is at a recovery low of 2.1 percent.
Today's report may prove to an outlier but, even the latest initial reading aside, claims are pointing to new strength in the labor market.
Released On 4/10/2014 8:30:00 AM For wk4/5, 2014
Prior Prior Revised Consensus Consensus Range Actual
New Claims - Level 326 K 332 K 318 K 310 K to 326 K 300 K
4-week Moving Average - Level 319.50 K 321.00 K 316.25 K
New Claims - Change 16 K 22 K -32 K
Highlights
Easter can play havoc with economic data and may be at play in a stunning 32,000 drop to 300,000 in initial jobless claims for the April 5 week. This is the largest drop in more than 10 years and, though the Labor Department says there no special factors involved, may be due to seasonal adjustments as Easter last year fell on March 31
But it's hard to get around improvement in this report. The 4-week average is down 4,750 to 316,250 which is more than 15,000 below the month-ago reading and which points to tangible improvement in the jobs market.
Continuing claims are also coming down, down 62,000 in lagging data for the March 29 week. The 4-week average is down 19,000 to 2.824 million. The unemployment rate for insured workers is at a recovery low of 2.1 percent.
Today's report may prove to an outlier but, even the latest initial reading aside, claims are pointing to new strength in the labor market.
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