Initial Jobless Claims
Initial Jobless Claims came in less than economists expected, at 338 Thousand for the week of December 21st. Economists were expecting 345 Thousand new jobless claims. Continuing Claims were also less than economists expected, coming in at 2.923 Million, slightly less than the economists survey number of 2.827 Million.
The jobless claims report showed the four-week moving average, a less volatile measure than the weekly figures, rose to 348,000 last week from 343,750.
The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs. Those who’ve used up their traditional benefits and are now collecting emergency and extended payments decreased by about 40,700 to 1.33 million in the week ended Dec. 7.
Thirty-five states and territories reported a decline in claims, while 18 reported an increase. Initial jobless claims reflect weekly firings and typically decline before job growth can accelerate.
“Never attribute to malice what is adequately explained by stupidity.” ~ Hanlon's Razor
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury