First Time Jobless Claims Remain Low

Companies may not be hiring but jobless claims are very low, at 270,000 for initial claims in the August 1 week. The 4-week average is down for a third week in a row, 6,500 lower to a 268,250 level that is more than 10,000 below the month-ago trend. Continuing claims, where data lag by a week, are also very low, down 14,000 in the July 25 week to 2.255 million. The 4-week average is down 18,000 to 2.239 million. The unemployment rate for insured workers is unchanged at 1.7 percent. All the readings in this report are at or near historic lows or multi-year lows. There are no special factors in today's report.

Recent History Of This Indicator: Jobless claims have been unusually low since March, offering highly favorable indications on the unemployment side of the labor market. Note that the prior week for this report, where the sample week was the same as the monthly employment report, points to strength for tomorrow's data on July.