Initial Jobless Claims Of 391k WAY Better Than Expected

Headline: 391,000

Expectations: 420,000, range of 410,000 to 425,000

Last Week: 428,000, revised up from the previous reading of 423,000

The 4-week moving average was 417,000, down from last week 422,250.

New York experienced the largest increase in initial claims at +4,389 due to layoffs in construction, retail, and services.  Puerto Rico, Oregon, Maryland, Kentucky, and Nevada all saw initial claims fall.

 

For some historical context:

Jobless claimsInitial Jobless Claims

Photo: St. Louis Fed

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