Jobless claims for the last week showed a modest decline of 6K, falling from 318K to 312K. This was slightly better than the consensus forecast of 313K. This week's print was the fifth time in the last six weeks that claims have come in below 320K.
With this week's decline, the four-week moving average declined by 3.75K to 311.75K. While it is not a new low, the four-week moving average is now just 1.25K above the low we saw on 5/30.
On a non-seasonally adjusted (Pending:NSA) basis, jobless claims fell by 13.2K to 300.2K. For the current week of the year, this is the lowest print since 2007, and nearly 61K below the average going back to 2000.