Jobless claims are very low and Puerto Rico has stabilized in what is the latest good news on the labor market. Initial jobless claims fell 2,000 in the November 25 week to 238,000. Claims in Puerto Rico, after peaking at 7,000 in the prior week, fell back to 2,965 suggesting that the worst of the hurricane impact from Maria may have passed.
Continuing claims, in lagging data for the November 18 week, did rise 42,000 to 1.957 million but the unemployment rate for insured workers held steady at a very low 1.4 percent.
All the readings in this report are very low and point clearly to another monthly employment report where strength will be the theme.