Weekly Initial Jobless Claims came in lower (better) than expected this morning, with the seasonally adjusted print coming in at 263,000 versus a consensus economist estimate of 265,000. This is the sixth straight week of readings in the 260s, and it’s the 78th consecutive week below 300k. The 78-week streak of sub-300k readings is the longest since 1970. Below is a look at a long-term chart of seasonally-adjusted Initial Jobless Claims going back to 2005. The string of weekly readings in the mid-200,000s over the last year and a half has been pretty amazing.
Below is a chart of the four-week moving average of seasonally-adjusted Initial Jobless Claims going back to 2005. This week’s reading is 263,000 — not enough to make a new low, but a healthy print nonetheless.
Non-seasonally adjusted Initial Jobless Claims came in at 215,500. The average non-seasonally adjusted reading for this week of the year since 2000 has been 301,000, so this week’s reading is well below average. It’s also the lowest print for this week of the year since at least 2000.