SEASONALLY ADJUSTED DATA
In the week ending April 14, the advance figure for seasonally adjusted initial claims was 386,000, a decrease of 2,000 from the previous week’s revised figure of 388,000. The 4-week moving average was 374,750, an increase of 5,500 from the previous week’s revised average of 369,250.
The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending April 7, unchanged from the prior week’s unrevised rate of 2.6 percent.
The advance number for seasonally adjusted insured unemployment during the week ending April 7 was 3,297,000, an increase of 26,000 from the preceding week’s revised level of 3,271,000. The 4-week moving average was 3,317,750, a decrease of 21,500 from the preceding week’s revised average of 3,339,250.
U.S. Job Numbers Disappoint – Forbes
Weekly U.S. jobless claims fell by just 2,000 to 386,000 and is lower than it has been over the last year, but jobless data is essentially flat since the start of 2012. Worse yet, the figure was the highest number in four months. The U.S. is just not cutting into those jobless claims fast enough to warrant a continuation of first quarter bullishness in the equity markets. The market was expecting around 355,000 in jobless claims.
Investors will spend much of Thursday morning debating whether or not the jobless claims for the week ending April 14 point to a trend of weaker data coming out, despite a relatively strong corporate earnings season.
The four week moving average of U.S. jobless claims rose by 5,500 to 374,750, with continuing claims for the week ending April 7 going to 3.29 million from 3.27 million. The lackluster job market pushes incomes down in the U.S. and that hurts U.S. government revenues due to low tax collection. Lower tax revenues pressures the U.S. deficit, which is likely to hit its deficit ceiling before the November election…
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