First Time Jobless Claims Rise 17K

Initial jobless claims rose in the January 20 week but remain low and favorable, at 233,000 which is lower than expected with the prior week revised down 4,000 to 216,000 for a new 45-year low. The 4-week average is down 3,500 to a 240,000 level that is roughly in line with the month-ago trend.

Continuing claims in lagging data for the January 13 week fell 28,000 to 1.937 million with this 4-week average down slightly to 1.920 million and also in line with the month-ago trend. The unemployment rate for insured workers is unchanged at 1.4 percent.

Unlike the prior week when there was a rash of estimates, only one state was estimated in the current week. Today's report points squarely at another very healthy employment report coming up a week from Friday.

Recent History Of This Indicator:
The steep 41,000 drop in initial claims during the January 13 week to 220,000, which was perhaps skewed lower by an unusual number of state estimates, is expected to be reversed in part during the January 20 week where the consensus is 240,000.