Initial jobless claims are skimming along the bottom
- Initial jobless claims 183K versus 200K estimate
- prior week 186K. Prior week remains unrevised
- 4-week moving average of initial jobless claims 191.75K vs 197.50K.
- Continuing Claims 1.655M versus 1.677M estimate
- prior week 1.675M revise to 1.666M
- 4-week moving average of continuing claims 1.6515M vs 1.662M last week
- The largest increases in initial claims for the week ending January 21 were in Arkansas (+419) and the Virgin Islands (+5),
- The largest decreases were in California (-15,582), New York (-4,957), Ohio (-4,396), Georgia (-3,921), and Pennsylvania (-2,700).
The claims data continues to be supportive of a steady/strong jobs market. The US nonfarm payroll will be released tomorrow at 8:30 AM ET. The expectations are centered around 190,000. Yesterday ADP came in at 106K