2017 Economic Calendar
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Jobless Claims  
Released On 6/15/2017 8:30:00 AM For wk6/10, 2017
PriorConsensusConsensus RangeActual
New Claims - Level245 K243 K240 K to 245 K237 K
4-week Moving Average - Level242 K243.00 K
New Claims - Change-10 K-8 K

Jobless claims remain extremely low and are consistent with strong demand for labor. Initial claims for the June 10 week fell 8,000 to 237,000 which is 6,000 below Econoday's consensus. The 4-week average is up very slightly to 243,000 which is right in line with levels in May and offers an early indication of strength for the June unemployment rate.

Continuing claims, which lag by a week, edged 6,000 higher to 1.935 million with this 4-week average also little changed, at 1.927 million. This average is also in line with levels in May. The unemployment rate for insured workers is steady and very favorable at 1.4 percent.

There are no special factors in today's report though two states, Hawaii and once again Louisiana, had to be estimated.

Consensus Outlook
Jobless claims are very low and pointing to unusually strong demand for labor. Forecasters sees initial claims coming in at 243,000 in the June 10 week vs 245,000 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

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