Initial Claims Revised to Only 205K for Previous Week
The U.S. Labor Department (DOL) reported initial jobless claims rose 6,000 to just 211,000 for the week ending January 18, again beating the forecast. The previous week’s level was revised higher to just 205,000.
That’s the fourth forecast beat in a row and for the entire start of 2020.
Lagging Jobless Claims Data
The advance seasonally adjusted insured unemployment rate was unchanged at a very low 1.2% for the week ending January 11.
The advance number for seasonally adjusted insured unemployment during that week was 1,731,000, a decrease of 37,000. The previous week’s level was revised up 1,000 from 1,767,000 to 1,768,000.
The 4-week moving average was 1,757,750, an increase of just 2,000. The previous week’s average was revised up by 250 from 1,755,500 to 1,755,750.
No state was triggered “on” the Extended Benefits program during the week ending January 4, the Labor Department said.
State Jobless Claims Data
The highest insured unemployment rates in the week ending January 4 were in Alaska (3.0), New Jersey (3.0), Connecticut (2.9), Pennsylvania (2.8), West Virginia (2.7), Montana (2.6), Rhode Island (2.6), Illinois (2.3), Iowa (2.3), and Minnesota (2.3).
The largest increases in initial claims for the week ending January 11 were in California (+15,273), Texas (+9,535), Missouri (+3,439), Florida (+2,244), and Arizona (+1,522), while the largest decreases were in New York (-21,532), Wisconsin (-4,599), South Carolina (-2,842), Connecticut (-1,866), and New Jersey (-1,856).
