Five-consecutive declines in weekly jobless claims came to and end in the latest week, with initial claims rising 17,000 to 474,000. The 4-week moving average, however, continued its downward trend, dropping 7,750 to 473,750.
The decline shouldn’t be viewed in a negative light, as the favorable trend remains intact. In addition, the end of the very positive streak, which saw claims decline from 532,000 to 457,000, isn’t surprising since initial claims can be volatile on a week by week basis.
Being more specific, the rise could be termed simply as “noise.”
Meanwhile, a sharp 303,000 decline in continuing claims to 5.16 million is encouraging since it could be signaling that folks in the unemployment line may finally be securing employment. However, the expiration of standard benefits, which typically last six months, are probably playing a role in the downward trend.
For a more detailed explanation of weekly claims, please see Economy 101: What are weekly jobless claims? on Examiner.com. Additional articles are available on my homepage.
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