2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Jobless Claims  
Released On 3/23/2017 8:30:00 AM For wk3/18, 2017
PriorPrior RevisedConsensusConsensus RangeActual
New Claims - Level241 K243 K240 K237 K to 245 K258 K
4-week Moving Average - Level237.25 K239.00 K240.00 K
New Claims - Change-2 K-6 K15 K

In mixed results, initial jobless claims rose 15,000 to a 7-week high of 258,000 but the 4-week average, reflecting how low recent levels have been, rose only 1,000 to 240,000. The reporting week is March 18 which is also the sample week for the March employment report and a comparison with the February sample week shows only limited change for the headline, at plus 4,000, and a bit more sizable and favorable change for the 4-week average, down 7,750.

Continuing claims, where data lag by a week, show significant improvement, down 39,000 in the March 11 week to 2.000 million with this 4-week average down 32,000 to 2.027 million. The unemployment rate for insured workers (which excludes job leavers and re-entrants) is at a new low, at 1.4 percent for a 1 tenth downtick.

Today's report includes annual revisions and a new standout reading, a 210,000 headline for initial claims in the February 25 week which is the best result since 1969. Labor is in demand which points to another healthy employment report for March.

Consensus Outlook
The March 18 sample week for initial jobless claims was also the sample week of the monthly employment report and the results will offer the first hints whether the labor market in March is proving as healthy as February and January. Forecasters see initial claims little changed in the week, at a consensus 240,000 vs 241,000 in the prior week.

New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smooths out weekly volatility.  Why Investors Care
Weekly series fluctuate more dramatically than monthly series even when the series are adjusted for seasonal variation. The 4-week moving average gives a better perspective on the underlying trend.
Data Source: Haver Analytics

powered by  [Econoday]