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US initial jobless claims 348K vs 362K estimate

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US weekly initial jobless claims and continuing claims data

Initial jobless claims
  • prior week came in at 375k revised to 377K
  • initial jobless claims 348K versus 362K estimate. This is a post Covid low (since March 14, 2020
  • 4-week moving average initial claims  377.75 versus last week’s 396.75 (-19,000 on the week)
  • continuing claims 2820K versus 2800k estimate
  • 4-week moving average continuing claims 2998.75K versus 3109.25 last week. This is the lowest level since March 21, 2020.

The initial claims data corresponds with the survey week for the BLS employment report next week. Being the lowest level since March 14, 2020, the trend is positive for that report

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