By: ETF DAILY NEWS
January 09, 2014 at 11:22 AM EST
New Jobless Claims At 330K, A Bit Better Than Expected
INDEXDJX:.DJI, INDEXSP:.INX, NYSEARCA:DIA, NYSEARCA:SPY, NYSEARCA:DDM, NYSEARCA:DOG, NYSEARCA:SH, NYSEARCA:SDS, DJI:DJI, CBOE:SPX, NQ:COMP, NY:XAX, NYSEARCA:VTI Related posts: New Jobless Claims At 298K, Much Better Than Forecast New Jobless Claims At 316K, Again Better Than Forecast New Jobless Claims At 338K, A Big Drop From Last Week New Jobless Claims At 368K, Much Worse Than Forecast New Jobless Claims At 379K, Much Worse Than Forecast
Doug Short: The Unemployment Insurance Weekly Claims Report was released this morning for last week. The 330,000 new claims number was a 15,000 decline from the previous week’s 345,000, an upward revision from 339,000. The less volatile and closely watched four-week moving average, which is usually a better indicator of the trend, fell by 7,750 to 349,000.
Here is the opening of the official statement from the Department of Labor:
In the week ending January 4, the advance figure for seasonally adjusted initial claims was 330,000, a decrease of 15,000 from the previous week’s revised figure of 345,000. The 4-week moving average was 349,000, a decrease of 9,750 from the previous week’s revised average of 358,750.
The advance seasonally adjusted insured unemployment rate was 2.2 percent for the week ending December 28, unchanged from the prior week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending December 28 was 2,865,000, an increase of 50,000 from the preceding week’s revised level of 2,815,000. The 4-week moving average was 2,872,250, an increase of 18,750 from the preceding week’s revised average of 2,853,500.
Today’s seasonally adjusted number came in below the Investing.com forecast of 335K.
Here is a close look at the data over the past few years (with a callout for the past year), which gives a clearer sense of the overall trend in relation to the last recession and the volatility in recent months.
As we can see, there’s a good bit of volatility in this indicator, which is why the 4-week moving average (the highlighted number) is a more useful number than the weekly data.(...)Click here to continue reading the original ETFDailyNews.com article: New Jobless Claims At 330K, A Bit Better Than ExpectedYou are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)
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