Generational Low for Continuing Claims
Labor markets continue to impress across nearly all metrics. Initial claims ticked modestly higher, but contuining claims were lower than expected.
"In the week ending January 6, the advance figure for seasonally adjusted initial claims was 261,000, an increase of 11,000 from the previous week's unrevised level of 250,000. The 4-week moving average was 250,750, an increase of 9,000 from the previous week's unrevised average of 241,750. The advance number for seasonally adjusted insured unemployment during the week ending December 30 was 1,867,000, a decrease of 35,000 from the previous week's revised level. This is the lowest level for insured unemployment since December 29, 1973 when it was 1,805,000."