US initial jobless claims 216K versus 226K estimate
Continuing claims 1722K versus 1740K estimate
The weekly US initial jobless claims, and better than expected at 216K versus 226K estimate. A lower number of jobless claims indicates a stronger employment picture.
- prior week was revised a bit higher to 233K versus 231K
- The 4-week moving average was 221,750, an increase of 2,500 from the previous week's revised average. The
previous week's average was revised up by 500 from 218,750 to 219,250.
- Continuing claims came in at 1722k vs 1740K estimate. The prior week was revised higher at 1750K vs 1740K last.
- The 4-week moving
average was 1,721,250, an increase of 15,250 from the previous week's revised average.
- The largest increases in initial claims for the week ending December 29 were in Michigan (+7,997), New Jersey (+7,845), Pennsylvania (+7,367), Connecticut (+5,472), and Ohio (+4,835),
- The largest decreases were in
California (-10,107), Texas (-4,804), North Carolina (-1,667), Florida (-1,315), and Arizona (-970).
The data is strong, but holidays can cause volatility and the shut down could also be an impact. I would guess, the shut down would be a negative so the lower number is still consistent with stronger employment.