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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 discusses jobless claims.
- Though almost unchanged from the week prior, new jobless claims at 351,000 suggest significant strengthening of the job market.
- The 4-week average is down 7,000 to 359,000 which is the 11th week of decreasing claims and 20,000 lower reading than a month ago.
- Levels below 400,000 indicate expansion of the workforce. Continuing claims also fell a significant 52,000 to 3.392 million with the 4-week average down 46,000 to 3.453 million.
- If weekly jobless claims can remain at or near this range then the net new job creation in 2012 could reach 3 million.
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