Prior week 215K revised to 216Kinitial jobless claims 208K vs 217K estimate 4 week moving average of initial claims 214.25K versus 219.0K last weekContinuing claims prior 1.814 million revised to 1.821 millionContinuing claims 1.805 million versus 1.815 million estimate The 4-week moving average was 1.811M vs previous week’s average 1.810M last week.
The move lower in jobless claims takes the figure back below the middle of the range (see chart below), and is consistent with a strong labor market.
Continuing claims moving down in the current week supports that as well.
This article was written by Greg Michalowski at investinglive.com.