Jobless claims for the latest week increased 14K, rising from 267K up to 281K versus consensus expectations of 283K. This represents the fifth straight week where claims have been below 300K.
Even with this week’s increase, the four-week moving average dropped from 285.25K down to 282.25K. That is the lowest reading in this indicator since June 2000, taking out the post-recession low of 282.75K from late October.
On a non-seasonally adjusted basis (NSA) claims rose by 13.3K up to 253K. For the current week of the year, this is the lowest reading since 2000, and more than 100K below the average of 356K for the current week going back to 2000.