US initial jobless claims 217K versus 215K estimate
US initial jobless claims for the week of August 31, 2019US initial jobless claims continue to remain strong. The weekly number came in at 217K versus 215K. The prior month was revised marginally higher to 216K from 215K.
- 4 week average 216.25K versus 214.75K last week
- continuing claims 1662K versus 1688K estimate. Prior week revised to 1701K versus 1698K previously reported
- 4 week average 1691.75K versus 1698K last week
- The largest increases in initial claims for the week ending August 24 were in New York (+4,452), Texas (+925), Georgia (+537), Illinois (+385), and North Dakota (+329),
- Tthe largest decreases were in California (-834), Michigan (-265),
Kentucky (-261), Washington (-252), and Pennsylvania (-213).
Although employment is a lagging indicator, the gains in the ADP and the steady jobless claims at lower levels, suggests that the hiring trends remain intact.