4-Week Moving Average for Jobless Claims Down to Only 209K
The U.S. Labor Department (DOL) reported initial jobless claims came in at a seasonally adjusted 210,000 for the week ending February 15, beating the consensus forecast. The previous week was revised higher by just 1,000 to 206,000.
Forecasts ranged from a low of 210,000 to a high of 217,000. The consensus forecast was 211,000.
The 4-week moving average was only 209,000, a decrease of 3,250 from the previous week’s slightly higher revised average. Last week was revised up by just 250.
Lagging Jobless Claims Data
The advance seasonally adjusted insured unemployment rate was unchanged at a very low 1.2% for the week ending February 8.
The advance number for seasonally adjusted insured unemployment during the week ending February 8 was 1,726,000, an increase of 25,000. The previous week’s level was revised up by 3,000 from 1,698,000 to 1,701,000.
The 4-week moving average was 1,722,250, a decrease of 5,250. The previous week’s average was revised up by 750 from 1,726,750 to 1,727,500.
No state was triggered “on” the Extended Benefits program during the week ending February 1.
State Jobless Claims Data
The highest insured unemployment rates in the week ending February 1 were in Alaska (3.0), New Jersey (2.7), Puerto Rico (2.7), Connecticut (2.5), Montana (2.5), West Virginia (2.5), Pennsylvania (2.4), Rhode Island (2.3), Illinois (2.2), and Minnesota (2.2).
The largest increases in initial claims for the week ending February 8 were in New Jersey (+984), Washington (+542), Virginia (+522), Nevada (+508), and Illinois (+451), while the largest decreases were in California (-3,066), New York (-1,535), Pennsylvania (-1,468), Missouri (-1,131), and Iowa (-687).
