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Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights jobless claims.
- After a significant plunge in new jobless claims last week, this week’s data shows a 15,000 increase in new claims. However, the data is based on estimates for a large number of states. A more accurate reading will be available after the holidays.
- That still leaves new claims at 381,000, which is below the 400,000 level that generally suggests widening of the labor force.
- The four-week average, a less volatile series, still shows a significant decline of 5,750, to a 375,000 level, so far the best reading.
- This is the fourth straight decrease for the four-week average and the eighth decrease in the last nine weeks.
- Continuing claims rose 34,000 to 3.601 million, with the four-week average still down 39,000 to 3.599 million. This is also the lowest figure since jobless claims started showing a recovery.
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