- Initial jobless claims 210K vs 210K estimate
- 4 week moving averages of initial jobless claims 210.5K vs 210.75K last week
- Continuing claims 1.819M vs 1.851M estimate
- 4-week moving average of continuing claims 1.847M vs 1.849M last week.
- The largest increases in initial claims for the week ending March 14 were in Kentucky (+3,305), Oklahoma (+1,201),
Tennessee (+553), Nebraska (+357), and Ohio (+271), - The largest decreases were in California (-4,397), Missouri
(-3,217), New York (-2,909), New Jersey (-1,745), and Pennsylvania (-1,639).
The data this week for the continuing claims is for the survey week of March 14. The initial claims from last week were for the survey week. The initial claims are always one week more recent vs the continuing claims. So for instance this week’s data is for the week of March 21 for initial claims. For continuing claims, the data is for the week of March 14.
The dominant theme is a “low-hire, low-fire” . The data reflects stability in the labor market amid a low-firing backdrop combined with slowing hiring.
Low claims don’t mean the labor market is entirely healthy. Hiring can slow at the same time layoffs remain low, creating a market where people who have jobs keep them but people looking for work struggle to find new opportunities.
