Jobless Claims Steady At Very Low Levels

Initial jobless claims are steady at very low levels but are not pointing to improvement for the November employment report. Initial claims edged down in the November 15 week, 2,000 lower to 291,000, while the 4-week average edged up, 1,750 higher to 287,500.

The latest week was the survey week for the November employment report and a comparison with the October survey week shows a 7,000 gain with the 4-week average up almost as much, at 6,250. This comparison won't be lifting estimates for the November report.

There is no survey-week comparison yet for continuing claims which are reported with a 1-week lag. In data for the November 8 week, continuing claims fell a sizable 73,000 to 2.330 million with the 4-week average down 6,000 to 2.369 million. This average has been trending slightly lower to repeated recovery lows. The unemployment rate for insured workers has been at a recovery low of 1.8 percent for the last 2 months.

There are no special factors in today's report, one that, despite the lack of improvement in initial claims, underscores the health right now in the jobs market.

Recent History Of This Indicator:
Initial jobless claims remain at a low level but did rise in the November 8 week, up 12,000 to 290,000 which was the highest reading in 7 weeks. The 4-week average also rose, up 6,000 to 285,000 which is the highest in 5 weeks. Nonetheless, the latest reading is relatively low.