Initial and continuing jobless claims continue moderating trend
Initial and continuing jobless claims continue moderating trend
Initial jobless claims declined 8,000 to 210,000 last week, continuing above the recent 50+ year low of 166,000 set in March. Meanwhile, the 4-week average rose by another 7,250 to 206,750, compared with the all-time low of 170,500 set seven weeks ago. Continuing claims also rose from their 50 year low of 1,317,000 set last week to 1,346,000:
Initial claims have trended slightly higher over the past 2 months. This continues to indicate a little cooling in the white-hot employment market, which nevertheless remains the brightest spot in the entire economy.