Initial jobless claims for the week ending January 14 decreased by 15,000 to 190,000 (consensus 212,000). Continuing jobless claims for the week ending January 7 increased by 17,000 to 1.647 million.
The key takeaway from the report is that new claims were at their lowest level since late September, implying no new difficulties in the labor market that could put a quick stop to the Fed’s hiking cycle.
The four-week moving average for initial claims decreased by 6,500 to 206,000.
The four-week moving average for continuing claims decreased by 5,500 to 1,673,000.
The total number of continued weeks claimed for benefits in all programs for the week ending December 31 was 1,893,525, an increase of 159,159 from the previous week. In the same week a year ago, there were 2,302,030 weekly claims filed for benefits in all programs.