2017 Economic Calendar
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Jobless Claims  
Released On 8/3/2017 8:30:00 AM For wk7/29, 2017
PriorPrior RevisedConsensusConsensus RangeActual
New Claims - Level244 K245 K244 K235 K to 247 K240 K
4-week Moving Average - Level244.00 K244.25 K241.75 K
New Claims - Change10 K11 K-5 K

Summer retooling in the auto industry hasn't been skewing jobless claims where levels are steady at historic lows. Initial claims fell 5,000 in the July 29 week to 240,000 with the 4-week average down 2,500 to 241,750. Continuing claims inched 3,000 higher in lagging data for the July 22 week to 1.968 million with this 4-week average up fractionally at 1.965 million. The unemployment rate for insured workers (which excludes job leavers and re-entrants) is a very low 1.4 percent. Demand for labor is strong and employers are holding onto their employees, positive indications for tomorrow's July employment report.

Consensus Outlook
The summer's auto retooling season hasn't disrupted weekly jobless claims which have been mostly steady at historic lows. Forecasters sees initial claims coming in unchanged at 244,000 in the July 29 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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