First Time Jobless Claims Fall Back

Initial jobless claims fell back in back in the January 2 week, down 10,000 to 277,000 and cutting in half the prior week's rise of 20,000. Despite the drop, trends are edging higher with the 4-week average, though down 1,250 to 275,750, slightly above the month-ago comparison. Continuing claims are also edging higher, up 25,000 in lagging data for the December 26 week to 2.230 million with the 4-week average at 2.218 million which is nearly 20,000 above the month-ago comparison. The unemployment rate for insured workers is unchanged at a very low 1.6 percent. There are no special factors in today's report, one that points to low unemployment but not lower levels of unemployment.

Recent History Of This Indicator:
Holiday volatility in jobless claims data is not unusual, this year taking readings a little higher to what are still, however, very healthy levels. Initial jobless claims are expected to fall back to trend, down 15,000 in the January 2 week to 272,000.