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Last Update: 02-Feb-12 09:51 ET
Initial Claims Continue to Edge Lower
The initial claims level fell from 379,000 for the week ending January 21 to 367,000 for the week ending January 28. The Briefing.com consensus expected the initial claims level to fall to 375,000.
According to the Department of Labor, there were no unusual factors that caused the decline.
The four-week moving average, a much more stable indicator of claims trends, fell from 377,750 to 375,750. That is the second lowest level (374,000 for the week ending December 31) since June 2008.
More importantly, the decline in the four-week moving average is a clear indication that the labor sector is improving. This should translate into strong payroll gains in the January employment report.
The continuing claims level declined from 3.567 mln for the week ending January 11 to 3.437 mln for the week ending January 18. The consensus expected the continuing claims level to fall to 3.538 mln.
According to the Department of Labor, there were no unusual factors that caused the decline.
The four-week moving average, a much more stable indicator of claims trends, fell from 377,750 to 375,750. That is the second lowest level (374,000 for the week ending December 31) since June 2008.
More importantly, the decline in the four-week moving average is a clear indication that the labor sector is improving. This should translate into strong payroll gains in the January employment report.
The continuing claims level declined from 3.567 mln for the week ending January 11 to 3.437 mln for the week ending January 18. The consensus expected the continuing claims level to fall to 3.538 mln.
