2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Jobless Claims  
Released On 6/8/2017 8:30:00 AM For wk6/3, 2017
PriorPrior RevisedConsensusConsensus RangeActual
New Claims - Level248 K255 K241 K235 K to 245 K245 K
4-week Moving Average - Level238.00 K239.75 K242 K
New Claims - Change13 K20 K-10 K

After spiking in the prior week, initial jobless claims came back down in the June 3 week falling 10,000 to 245,000 which is very near Econoday's consensus for 241,000. The 4-week average is up but only slightly, at 242,000 which is right in line with trend. Continuing claims are slightly lower, at 1.917 million in lagging data for the June 3 week with the 4-week average at 1.915 million and a new low going back to the early 1970s. The unemployment rate for insured workers remains at 1.4 percent. There are no special factors in the report which continues to signal unusually strong demand for labor.

Consensus Outlook
Jobless claims are very low and pointing to unusually strong demand for labor. Forecasters sees initial claims coming in at 241,000 in the June 3 week vs 248,000 in the prior week.

New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smooths out weekly volatility.  Why Investors Care
Weekly series fluctuate more dramatically than monthly series even when the series are adjusted for seasonal variation. The 4-week moving average gives a better perspective on the underlying trend.
Data Source: Haver Analytics

powered by  [Econoday]