U.S. Jobless Claims Edge Up, But Remain Near Historic Lows

[mahatmakanejeeves]

Source: The Wall Street Journal.

U.S. Jobless Claims Edge Up, But Remain Near Historic Lows

Data suggests a slightly increased number of layoffs, but still at levels indicating steady job growth

By Eric Morath
[e-mail]

Updated Jan. 21, 2016 9:20 a.m. ET

WASHINGTON—The number of U.S. workers filing applications for jobless benefits has edged up early this year, suggesting a slightly increased number of layoffs even though the overall level remains consistent with steady job creation.

Initial jobless claims increased by 10,000 to a seasonally adjusted 293,000 in the week ....

Read more: http://www.wsj.com/articles/u-s-jobless-claims-touch-six-month-high-last-week-1453383145

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A subscription is required to read the article in TWSJ., but it adds the important note that the numbers are still lower than they had been in years past.

Jobless claims jump to 7-month high
Published: Jan 21, 2016 8:59 a.m. ET

New applications for unemployment benefits rise 10,000 to 293,000

WASHINGTON (MarketWatch) — The number of Americans applying for unemployment benefits in mid-January reached seven-month highs, perhaps a sign that the rate of layoffs in the U.S. has risen slightly from record lows.

Initial jobless claims climbed a seasonally adjusted 10,000 to 293,000 in the seven days stretching from Jan. 10 to Jan 16, the government said Thursday. That’s the highest level since last July.

What’s more, the four-week average of initial claims rose by 6,500 to 285,000, the Labor Department said. The last time the more reliable monthly average was that high was last April.

Initial claims are still at very low levels — any number below 300,000 is viewed as evidence of a strong labor market. And other gauges such as the more valuable U.S. monthly employment report show that hiring is still going strong. ... Still, initial claims have risen more than 14% after touching a post-recession low of 256,000 in early October.

[whatthehey]

1. Meh. This metric is just humming along boringly

Little wobbles up and down in a 40k band for months on end. This really is the new normal it seems.

[whatthehey]

2. ..and a drop back down to the 270s the following week I see.

Really hasn't done much for quite a while beyond remain at slightly oscillating lows.

[mahatmakanejeeves]

3. In the week ending February 15, 2014....

In the week ending February 15, 2014, the advance figure for seasonally adjusted initial claims was 336,000, a decrease of 3,000 from the previous week's unrevised figure of 339,000. The 4-week moving average was 338,500, an increase of 1,750 from the previous week's unrevised average of 336,750.

That's a whole lot more than what we're seeing in 2016.