Initial jobs claims are turning back to the downside
- Initial jobless claims 204K versus 225K estimate
- Prior month revised lower to 223K from 225K
- four week moving average 213.75K versus 220.50K revised from 221.00K
- continuing claims 1.694M vs 1.708M estimate. Prior week revised to 1.718M from 1.710M previously reported
- 4- week MA 1.6875M vs 1.6815M last week.
- The largest increases in initial claims for the week ending December 24 were in Missouri (+4,974), Kentucky (+4,133), Washington (+2,197), New York (+2,079), and Ohio (+2,026),
- The largest decreases were in California (-3,243), Georgia (-1,568), Texas (-1,455), Florida (-1,090), and North Carolina (-888).
The ADP and data and now the jobless claims data both continue to show better than expected trends.