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 6/7/07 For wk 6/2 2007 | ||||||||||||
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Highlights
Jobless claims data continue to point to tight conditions in the labor market. Initial claims fell 1,000 in the June 2 week to a nearly as-expected 309,000, a level right at the four-week average of 307,250. Despite the Memorial Day weekend, the Labor Department said there were no special factors in the week. Continuing claims did hint at weakness, up 72,000 in the May 26 week though the four-week average actually slipped slightly to 2.498 million. Financial markets showed no reaction to the data.
Initial jobless claims were little changed in the May 26 week, down 4,000 to an as-expected level of 310,000. There were no special factors in the week. Continuing claims also continued to show improvement, down 52,000 to 2.472 million in data tracking the May 19 week. Jobless claims clearly show a still tight labor market.
Jobless Claims Consensus Forecast for 6/2/07: 310,000
Range: 310,000 to 315,000
![[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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