Jobless Claims came in modestly lower than expected this week, falling from 221K down to 218K. This week’s print marks the record 172nd straight week of sub-300K claims and the 37th straight week where claims have been at or below 250K.
While jobless claims remain right near historic lows, the four-week moving average is 7.5K above its cycle low of 213.5 from early May.
Finally, on a non-seasonally adjusted basis, jobless claims moved down to 205.6K from 217.3K last week. For the current week of the year, this week’s reading is more than 120K below the average for the current week of the year dating back to 2000 and the lowest reading for the current week of the year since 1973.