Initial Jobless Claims Still Low at 265K

Indications from the jobless claims report are all lining up for another month of solid strength in the employment report. After having peaked in January near 280,000, initial claims have fallen back to the 260,000 area, at 265,000 in the March 19th week. The 4-week average, at 259,750, is trending slightly lower.

Data for continuing claims lag by a week and the available latest week, March 12th was the sample week for the March employment report. Continuing claims fell 39,000 in the week to 2.179 million with the 4-week average at 2.207 million, which when compared with the sample week of the February employment report shows a sizable 34,000 improvement.

Of special note! The latest reading for initial claims is the 55th straight under 300,000, the longest streak since 1973 when the workforce was by comparison much smaller. There are no special factors in today's report.

Recent History Of This Indicator:
Initial jobless claims have been holding near record lows and are pointing to another month of solid employment growth. The Econoday consensus for the March 19th week is 268,000 vs 265,000 in the March 12th week. The March 12th week was the sample week for the March employment report and is also the reporting week for continuing claims in this report. Continuing claims, like initial claims, have been holding at historic lows.