Jobless Claims Released On 5/1/2014 8:30:00 AM For wk4/26, 2014 Prior Prior Revised Consensus Consensus Range Actual New Claims - Level 329 K 330 K 320 K 310 K to 335 K 344 K 4-week Moving Average - Level 316.75 K 317.00 K 320.00 K New Claims - Change 24 K 25 K 14 K Highlights Extreme volatility is sweeping initial jobless claims which have ranged from a low of 301,000 at the beginning of the month to, unfortunately, a high of 344,000 in the April 26 week. There are no special factors behind the climb which points to month-end deterioration in the labor market.
The 4-week average, which is especially important to look at during times of volatility, does not indicate deterioration, at 320,000 and little changed from the month-ago comparison.
Continuing claims, which are reported with a one week lag, also rose in the latest data, up a sizable 97,000 in the April 19 week to 2.771 million. But the 4-week average continues to show significant improvement, at 2.734 million which is nearly 100,000 lower than the month-ago comparison. The unemployment rate for insured workers ticked 1 tenth higher to 2.1 percent.
Seasonal adjustments often distort economic data surrounding Easter and its shifting dates. Stepping back and looking at the trends, jobless claims are probably consistent with moderate growth in the labor market.
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