Financial Professionals


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

Source: Bloomberg

Initial Jobless Claims 4-Week Moving Average, 8/13/10 to 8/11/11
Source: Bloomberg

Continuing Jobless Claims, 8/13/10 to 8/11/11
Source: Bloomberg

Past performance is not a guarantee of future results.

Virtus Investment Partners provides this communication as a matter of general information. The opinions stated herein are those of the author and not necessarily the opinions of Virtus, its affiliates or its subadvisers. Portfolio managers at Virtus make investment decisions in accordance with specific client guidelines and restrictions. As a result, client accounts may differ in strategy and composition from the information presented herein. Any facts and statistics quoted are from sources believed to be reliable, but they may be incomplete or condensed and we do not guarantee their accuracy. This communication is not an offer or solicitation to purchase or sell any security, and it is not a research report. Individuals should consult with a qualified financial professional before making any investment decisions.