2017 Economic Calendar
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Jobless Claims  
Released On 11/9/2017 8:30:00 AM For wk11/4, 2017
PriorConsensusConsensus RangeActual
New Claims - Level229 K232 K229 K to 242 K239 K
4-week Moving Average - Level232.50 K231.25 K
New Claims - Change-5 K10 K

Initial claims for the November 4 week were up 10,000 to 239,000 and above Econoday's consensus estimate of 232,000. The four week average declined 1,250 to 231,250 – the lowest point for the average since 227,750 in the March 31, 1973 week. Continuing claims were up 17,000 to 1.901 million in the October 28 week, bouncing off their recent low.

The Labor Department reported that claims taking procedures continued to be severely disrupted in the Virgin Islands while backlogged filings in Puerto Rico continued to be processed. Unadjusted claims in Puerto Rico totaled 8,137 in the current week after 6,124 in the previous week.

Seasonally adjusted insured unemployment rate rose to 1.4 percent in the October 28 week from 1.3 percent in the previous week.

Consensus Outlook
Initial claims are expected to come in at 232,000 in the November 5 week vs 233,000 in the October 28 week. Hurricane-related claims from Puerto Rico are still a wildcard.

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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