Sections: Economy

Jobless Claims Fall to 216K, Crushing Forecast

U.S. jobless claims graph on a tablet screen. (Photo: AdobeStock)

The Labor Department said initial jobless claims fell far more than expected to 216,000 for the week ending January 5, crushing the consensus forecast at 224,000.

The forecasts ranged from 215,000 to 229,000.

The 4-week moving average was 221,750, an increase of 2,500 from the previous week’s revised average. The previous week’s average was revised up by 500 from 218,750 to 219,250.

The advance seasonally adjusted insured unemployment rate was unchanged at a very low 1.2% for the week ending December 29. The advance number for seasonally adjusted insured unemployment during the week ending December 29 was 1,722,000, a decrease of 28,000.

The 4-week moving average was 1,721,250, an increase of 15,250 from the previous week’s revised average.

No state was triggered “on” the Extended Benefits program during the week ending December 22.

The highest insured unemployment rates in the week ending December 22 were in Alaska (3.3), Connecticut (2.2), New Jersey (2.2), Montana (2.0), Illinois (1.9), Massachusetts (1.9), Minnesota (1.9), Pennsylvania (1.9), California (1.8), Puerto Rico (1.8), Rhode Island (1.8), and Washington (1.8).

The largest increases in initial claims for the week ending December 29 were in Michigan (+7,997), New Jersey (+7,845), Pennsylvania (+7,367), Connecticut (+5,472), and Ohio (+4,835), while the largest decreases were in California (-10,107), Texas (-4,804), North Carolina (-1,667), Florida (-1,315), and Arizona (-970).

Continue reading with a PPD Membership

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

  • Economy

Consensus Forecast for Q1 2019 GDP Slighter Stronger than Prior Year

The consensus forecast for first quarter (Q1) 2019 gross domestic product (GDP) is 2.3%, slightly higher than the 2.2% for…

14 hours ago
  • Markets

Market Averages Steady Amid Single Stock Volatility

Markets have significant volatility in single-stock issues during the heaviest three-day stretch of first-quarter (Q1) earnings reports this season.

22 hours ago
  • Video

They Have Eyes, But Cannot See: Liberty Never Sleeps

On Liberty Never Sleeps, Tom ends the week with a discussion about why liberals never seem to be willing to…

23 hours ago
  • Economy

Durable Goods Gain Strongly in March, Crushing the Forecast at 2.7%

New orders for manufactured durable goods rose $6.8 billion or 2.7% to $258.5 billion in March, far stronger than the…

23 hours ago
  • Economy

Jobless Claims Rise More than Expected to 230K for April 20

The Labor Department said initial jobless claims jumped 37,000 to 230,000 for the week ending April 20, more than the…

23 hours ago
  • Elections

Joe Biden Announces 2020 Bid for President

Former vice president Joe Biden released a video on social media officially announcing he will run for president in 2020.

1 day ago