Jobless claims for the latest week declined by 5K, falling from 272K down to 267K. This is the 42nd straight week that claims have been below 300K, which is the longest streak since 1973.
Although the weekly reading declined, the four-week moving average increased by 2K up to 272.5K. It has now been nine weeks since the four-week moving average last made its cycle low of 259.25K.
The big news of this week’s report, though, was in the non-seasonally adjusted (NSA) data where claims increased to 319.9K. For the current week of the year, that is the lowest level since 1969!