- Prior week initial jobless claims 226K revised to 227K
- Prior week continuing claims 1.810M revised to 1.8000 million
- Initial jobless claims 215K versus 225K estimate
- 4-week moving average 224.25K vs 223.50K prior
- Continuing Claims 1.821M vs 1.800M est.
- 4 week MA of continuing claims 1.795M vs 1.785M last week.
The initial claims come of the high of the range (see chart below).
What is the weekly employment claims data?
For background, the weekly US jobless claims reports are released by the United States Department of Labor every Thursday morning and are one of the fastest indicators of labor market conditions in the United States. The report includes two key measures: Initial Claims and Continuing Claims. Initial Claims track the number of people filing for unemployment benefits for the first time during the previous week. In simple terms, it measures how many workers were newly laid off and applied for assistance. When initial claims stay low, it usually signals that employers are keeping workers and the job market remains healthy. Rising claims can be an early warning sign that layoffs are increasing and economic growth may be slowing.
Continuing Claims measure the number of people who remain on unemployment benefits after their initial filing. This helps show whether unemployed workers are finding new jobs quickly or struggling to get rehired. If continuing claims rise, it often suggests hiring conditions are becoming more difficult and people are remaining unemployed longer. If they decline, it typically points to improving job opportunities and stronger labor demand. Together, the two reports provide investors, economists, businesses, and the Federal Reserve with an important real-time look at the strength of the US labor market and broader economy.
This article was written by Greg Michalowski at investinglive.com.
