2017 Economic Calendar
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Jobless Claims  
Released On 7/6/2017 8:30:00 AM For wk7/1, 2017
PriorConsensusConsensus RangeActual
New Claims - Level244 K244 K239 K to 250 K248 K
4-week Moving Average - Level242.25 K243.00 K
New Claims - Change2 K4 K

In results clouded by estimates, initial jobless claims rose 4,000 in the July 1 week to 248,000 which nevertheless is steady and safely within Econoday's consensus range. Seven states, including California, had to be estimated in the week which raises the risk of significant revision in next week's report. Continuing claims, where data lag by a week, rose 11,000 in the June 24 week to 1.956 million with the unemployment rate for insured workers unchanged at a very low 1.4 percent. Estimates aside, the data in this report remain at historic lows and continue to signal strong demand for labor.

Consensus Outlook
Demand for labor is very strong reflected in jobless claims which are at historic lows. Forecasters sees initial claims coming in at 244,000 in the July 1 week, unchanged from the prior week.

New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smooths out weekly volatility.  Why Investors Care
Weekly series fluctuate more dramatically than monthly series even when the series are adjusted for seasonal variation. The 4-week moving average gives a better perspective on the underlying trend.
Data Source: Haver Analytics

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