US initial jobless claims and continuing claims highlights
- Last week's report
- Initial jobless claims 2981K versus 2500K estimate. Prior month revised 23176K from 3169K previously reported
- 4 week moving average of initial jobless claims 3616.5 K versus 4180.5 K last week
- Continuing claims 22833K versus 25120K estimate. Prior week revised to 22377K versus 22647K estimate
- 4 week moving average of continuing claims 19760K versus 17030.25K last week
- total claims since mid March comes and around -36.5M
the trend in employment claims continues to move to the downside. However if they still are very elevated on it week to week basis. The total amount of claims since mid March as extended to 36.5 million which is shocking. With the restart of the US economy getting going, we should see some tapering of the claims if not see a tilt back to the upside over time soon. Next week will be interesting to see the numbers as some workers return to the payroll.
