US initial jobless claims 411K vs 380K estimate
Initial jobless claims in continuing claims for the current week
- prior week
- initial jobless claims 411K versus 380K estimate. Prior week revise 2418 Kate from 412K previously reported
- 4-week moving average of initial jobless claims 397.75K versus 396.25K last week
- continuing claims 3390K vs 3460K estimate. This is the lowest level since March 21, 2021 it was 3094K. The prior week was revised higher to 3534K from 3518K previously reported
- 4-week moving average of continuing climbs 3552.5K vs last week's 3607.75K
- The largest increases in initial claims for the week ending June 12 were in Pennsylvania (+21,905), California (+15,131), Kentucky (+9,172), Florida (+3,344), and Texas (+3,127),
- The largest decreases were in Michigan (-5,615),
Delaware (-2,516), Washington (-1,998), Tennessee (-1,746), and Alabama (-1,706).
Not a good trend to have the claims back over 400K. There continues to be a matching of jobs needed with workers. Nevertheless, it is somewhat puzzling that initial jobless claims are moving higher when demand for workers is great.
Continuing claims however move to a new low which is a good thing for the employment picture assuming those people are now getting jobs.