A surprise 19,000 rise in initial jobless to a much higher-than-expected 348,000, together with a rising trend for continuing claims, are not pointing to much improvement for the labor market, at least for January. But a plus in the data is the 4-week average for initial claims, up only slightly to 333,000 which is more than 20,000 below the month-ago trend.
Another plus is a 16,000 dip in continuing claims to 2.991 million in data for the January 18 week. The 4-week average, however, is up sharply, 43,000 higher to 2.970 million which is the highest reading since August. The unemployment rate for insured workers, which had been as low as 2.1 percent in November, is at 2.3 percent for a 3rd straight week. There are no special factors at play in today's report though the latest initial claims are for the shortened Martin Luther King week which raises the risk of adjustment volatility. The Fed yesterday cited improvement underway in the labor market but its hard to find convincing proof in this report. | |
Market Consensus before announcement
Initial jobless claims posted at lower-than-expected 326,000 in the January 18 week. The 4-week average was down 3,750 to 331,500 which is more than 10,000 lower than the month-ago comparison to offer an indication of strength for the January employment report. But in a partial offset, continuing claims are not coming down. Continuing claims, which are reported with a 1-week lag, rose 34,000 in the January 11 week to 3.056 million for a second straight reading over 3.0 million. Continuing claims had held below 3.0 million through the second half of last year. The 4-week average is up 31,000 in the week to 2.939 million which is the highest reading since August.
Source: Bloomberg
|
Give a more longer term perspective of Economic trends and the Macroeconomic and Monetary Interdependence of the Global Economy. With the Background of this approach the blog will deal with the implications for Investment decisions. The author believes that China and the Asia Pacific Region are and will be the powerhouse for the global economic growth for years to come. It will also cover IT because of its momentum driver for economic growth.
Thursday, 30 January 2014
US Initial jobless Claims rises to 19,000
Popular Posts
-
China's military on Wednesday expressed strong discontent and firm opposition to U.S. accusations about its growing military clout and...
-
Japanese Prime Minister Shinzo Abe and his counterpart of Bahrain, Khalifa bin Salman Al Khalifa, agreed Saturday to hold a strategic mini...
-
US Bond Market Size 1980 – $2.54 Trillion 1990 – $7.66 Trillion 2000 – $16.96 Trillion 2010 – $36.52 Trillion 2012 (Q2) – $37.46 Trill...
-
Among the labor indicators. '' Despite the data’s richness, only two indicators consistently attract widespread attention: net mont...
-
Britain's finances showed an improvement last month as stronger economic growth and a recovering housing market boosted tax revenues, ...
-
Dirty old river, must you keep rolling Flowing into the night People so busy, makes me feel dizzy Taxi light shines so brigh...
-
The trend of growth in China's current and capital accounts diverged in the first quarter with a smaller surplus in the former and a b...
-
Chinese President Xi Jinping on Tuesday called upon governments at all levels to follow the laws of economics to achieve rational and sus...
-
China's cabinet on Monday unveiled details of financial support for the cash-strapped small businesses which play a key role in growth...
-
Urban Chinese income jumped 70 times in the past 35 years. Average disposable income in Chinese cities reached an average of about 25 thou...