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 smoothes out weekly volatility. Why Investors Care
| Released on 3/22/07 For wk 3/17 2007 | ||||||||||||
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Highlights
In a good sign for the labor market, first-time jobless claims fell 4,000 in the March 17 week to 316,000. The four-week average fell 3,750 to 326,000, an elevated level but still under February levels near 340,000. Continuing claims likewise are showing improvement from February.
February's employment report the week before last showed plenty of strength in the labor market, a big plus as the housing and manufacturing sectors slow. There was no initial reaction in the financial markets to the jobless claims data.
Initial jobless claims fell 12,000 in the week ending March 10 to 318,000, pointing to steady conditions in the labor market. The four-week average fell a sharp 10,250 in the week but to a 329,250 level that is still on the high side. Another low number for claims would suggest a rebound in March employment growth.
Jobless Claims Consensus Forecast for 3/17/07: 322,000
Range: 315,000 to 330,000
![[Chart]](chart.gif)
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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. |
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