*SCALPSWINGSTRADDLE*

[Zephyr]

Jobless Claims - better than expected.
Released On 8/21/2014 8:30:00 AM For wk8/16, 2014
Prior Prior Revised Consensus Consensus Range Actual
New Claims - Level 311 K 312 K 300 K 300 K to 315 K 298 K
4-week Moving Average - Level 295.75 K 296.00 K 300.75 K
New Claims - Change 21 K 22 K -14 K
Highlights
Jobless claims continue to trend lower, pointing to month-to-month strength for the August employment report. Initial claims fell 14,000 to a better-than-expected level of 298,000 in the August 16 week, a week that is also the sample week for the monthly employment report. A comparison with the July sample week shows a 5,000 improvement. The 4-week average, at 300,750, is up 4,750 from the prior week but is down 8,500 from the July sample week.

Continuing claims, lagging data for the August 9 week, are down 49,000 from prior week to a new recovery low of 2.500 million. The 4-week average, at 2.528 million, is down 2,000 from the prior week and is down 16,000 from the July sample week. The unemployment rate for insured workers remains at a recovery low of 1.9 percent.

There are no special factors affecting this report, one that points to narrowing slack in the labor market and that will fuel the hawks at the FOMC.