Initial Jobless Claims
Initial Jobless Claims for the week ending August 5 (as reported on August 11):
- Jobless benefits fell 7,000 to 395,000, beating estimates for a rise to 405,000.
- Jobless benefits are at their lowest level since April 1.
- Last week's figure was revised higher, from 400,000 to 402,000.
- 4-week moving average is 405,000 - down from last week's 408,250.
- 4-week moving average is at its lowest level since April 15.
- Continuing claims fell 60,000, the biggest drop since February.
- Unemployment rate among those eligible for benefits fell to 2.9% from 3%.
COMMENTARY: This weekly gauge of U.S. labor conditions does not suggest the ideology sell-off is motivating employers to quickly reduce the size of its labor force. Given the level of stress in the capital markets, investors need to once again begin to actively monitor this weekly report.
Initial Jobless Claims, 8/13/10 to 8/11/11
Initial Jobless Claims 4-Week Moving Average, 8/13/10 to 8/11/11
Continuing Jobless Claims, 8/13/10 to 8/11/11