US Jobless Claims Fall Unexpectedly to Lowest Since 1969



In the week ending July 14, the advance figure for seasonally adjusted initial claims was 207,000, a decrease of 8,000 from the previous week's revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The previous week's level was revised up by 1,000 from 214,000 to 215,000.

The 4-week moving average was 220,500, a decrease of 2,750 from the previous week's revised average. The previous week's average was revised up by 250 from 223,000 to 223,250.

According to unadjusted data, the biggest decreases in claims were recorded in New York (-9,722), Michigan (-9,389), New Jersey (-4,847), Kentucky (-2,288) and Massachussetts (-2,279) while largest gains were seen in California +(7,015), Georgia (+3,750), Alabama (+2,598) and South Carolina (+1,127). Claims dropped in Puerto Rico (-866) and Virgin Islands (-22).

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending July 7, unchanged from the previous week's unrevised rate. 

Continuing claims during the week ending in July 7 were 1,751,000, an increase of 8,000 from the previous week's revised level of 1,743,000, and above market consensus of 1,730,000. The 4-week moving average was 1,735,750, an increase of 6,250 from the previous week's revised average. The previous week's average was revised up by 1,000 from 1,728,500 to 1,729,500.

US Jobless Claims Fall Unexpectedly to Lowest Since 1969


DOL | Stefanie Moya | stefanie.moya@tradingeconomics.com
7/19/2018 1:02:19 PM