First Time Jobless Claims Jump 20K

Initial jobless claims unexpectedly jumped 20,000 to 287,000 in the December 26 holiday week, the highest level since the July 4 holiday week. The Econoday consensus expected an increase of 3,000 to 270,000. The 4-week moving average was up 4,500 to 277,000 in the December 26 week, the highest since the July 18 week. The level of continuing claims increased 3,000 to 2.198 million in the December 19 week. The seasonally adjusted insured unemployment was unchanged at 1.6 percent in the December 19 week. It should be noted that readings in this report can be volatile during the holiday weeks.

Recent History Of This Indicator:
Initial jobless claims have been holding little changed at historic lows. More of the same is expected for the December 26 week with the Econoday consensus at 270,000. Note, however, that readings in this report can be volatile during the holiday weeks.