IT KEEPS GETTING BETTER: Initial Claims Fall To Lowest Level Since May 2008

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Initial claims are out and the number is well below analyst expectations.

366K new claims were filed, against expectations for 390K.

The lower figure pushed the four-week moving average down by 6.5K, to 387.7K. Last year, the four-week average stood at 426.7K.

Continuing claims also came in below expectations, at 3.603 million verse a forecast for 3.637 million.

Last week’s figures were revised up slightly for both indicators, with jobless claims increased by 4K to 385K, and continuing claims up 16K to 3.599 million.


Only a few minutes until the big economic datapoint of the day: initial jobless claims, coming out at 8:30 a.m.

Analysts are looking for initial claims to tick up from last week, to 390,000.

Initial claims have been steadily improving, particularly after last week’s surprise announcement of just 381,000 claims, well below forecasts of 395,000.

Continuing claims, or the number of people continuing to receive unemployment benefits, are also expected to rise this week, to 3.637 million, up 54,000 from last week.