2017 Economic Calendar
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Jobless Claims  
Released On 4/13/2017 8:30:00 AM For wk4/8, 2017
PriorPrior RevisedConsensusConsensus RangeActual
New Claims - Level234 K235 K243 K239 K to 245 K234 K
4-week Moving Average - Level250.00 K250.25 K247.25 K
New Claims - Change-25 K-24 K-1 K

Initial jobless claims continue to surprise to the downside, coming in at 234,000 in the April 8 week vs Econoday's consensus for 243,000. The 4-week average, at 247,250, is down 3,000 for the second straight decline. Continuing claims are also down, 7,000 lower in lagging data for the April 1 week to 2.028 million. These readings are low and favorable and consistent with strong demand for labor. There are no special factors in the week though Louisiana was once again estimated.

Consensus Outlook
Jobless claims fell sharply in the prior week though comparisons with much of March, where seasonal adjustments lifted totals, may have exaggerated the improvement. Initial jobless claims in the April 8 week are expected to reverse some of the decline in the April 1 week, rising 9,000 to a consensus 243,000.

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

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