Jobless Claims Better Than Expected

by: Bespoke Investment Group

Jobless claims came in better than expected again this week, falling by 9K. While economists were expecting a level of 330K, the actual reading came in 15K better at 315K. This marks the lowest reading for weekly claims since late November.

With this week's decline, the four-week moving average fell to 330.5K. This marks the lowest reading for the indicator since the first week of December. While the four-week moving average is currently at a 13-week low, it has now been 24 weeks since the four-week moving average made its post-recession low of 305K back on 9/27/13.

On a non-seasonally adjusted basis (NYSE:NSA), jobless claims fell by 15.6K down to 302.2K. For the current week of the year, this is the lowest reading since 2007, and is 74K below the average for this week going back to 2000.