Initial Claims Essentially Flat in Run-Up to Easter Week

By Mark Lieberman

Managing Director and Senior Economist

Highlights

  • 1st time claims for unemployment insurance for the week ended April 8 DECLINED 1,000 to 234,000;
  • The number of initial claims for the week ended April 1 was REVISED UP 1,000 to 235,000;
  • The smoothing four-week moving average of first time claims FELL 3,00 to 247,250 or 0.162percent of total employment;
  • Continued claims – reported on a one-week lag – for the week ended April 1 FELL 7,000 to 2,028,000;
  • Four-week moving average of continued claims INCREASED 750 to 2,025,500.

Image result for unemployment insurance claims

In another signal of a calm labor market first time claims for unemployment insurance moved sideways for the week ended April 8 – dipping 1,000 as the number of claims filed in the previous week were revised up 1,000, the Labor Department reported Thursday.

Seasonal adjustment factors trimmed the increase in raw number of initial claims from 31,000 to the reported, seasonally adjusted number. The number of claims will continue to bounce around through the Easter holiday.

Continued claims too showed relative stability. In the month of March, continued claims ranged from 2,000,000 to 2,052,000, a standard deviation of about 1.4. In February, the standard deviation of continued was 14.1.

You can hear Mark Lieberman tomorrow at 8:45 am on the Morning Briefing on P.O.T.U.S. radio @sxmpotus, Sirius-XM 124 and again at 12:05 pm on the Mid-Day Briefing. You can follow him on Twitter at @foxeconomics.

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