US Adds More Jobs Than Expected in January, 517K v 185K with 3.4% Unemployment

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  • #51077
    MoneyNeverSleeps
    Participant

    Fed’s Daly: December Wage Data Was One Month Of Data, Says ‘Cannot Declare Victory’
    – Says It Is ’Too Soon To Declare Victory, Stop Rate Hikes’
    – Transmission Rate Has Sped Up But Real Impact Is Still Lagging

    #51292
    TradersCom
    Keymaster

    The low level of initial claims, decreased by 1,000 to 205,000 (consensus 210,000).
    Shows the tight labor market keeping the Fed on edge about wage #inflation keeping overall inflation well above the Fed’s 2.0% target.

    Initial jobless claims for the week ending January 7 decreased by 1,000 to 205,000 (consensus 210,000).
    The four-week moving average for initial claims decreased by 1,750 to 212,500.

    Continuing jobless claims for the week ending December 31 decreased by 63,000 to 1.634 million.
    The four-week moving average for continuing claims decreased by 8,750 to 1,679,500.

    The total number of continued weeks claimed for benefits in all programs for the week ending December 24 was 1,734,355, an increase of 132,576 from the previous week. In the same week a year ago, there were 2,093,144 weekly claims filed for benefits in all programs.

    #52773
    TradersCom
    Keymaster

    Initial jobless claims for the week ending January 28 decreased by 3,000 to 183,000 (consensus 201,000), which is the lowest number of initial claims since April 2022. Continuing jobless claims for the week ending January 21 decreased by 11,000 to 1.655 million.

    The key takeaway from the report is that the low level of initial claims is an encouraging signal for the labor market, which, in light of Fed Chair Powell’s comments yesterday, is not the scare factor for the market that it has been in the past. On the contrary, the default view for the market now is to perceive it as good portent for a soft landing.

    The four-week moving average for initial claims decreased by 5,750 to 191,750.
    The four-week moving average for continuing claims decreased by 10,500 to 1,651,500.
    The total number of continued weeks claimed for benefits in all programs for the week ending January 14 was 1,890,277, a decrease of 45,459 from the previous week. In the same week a year ago, there were 2,198,192 weekly claims filed for benefits in all programs.

    #50859
    Helmholtz Watson
    Participant

    US Nonfarm Payrolls in January rose 517,000 rose higher than the expected 185,000 after the prior increase revised 260,000 increase in December (from
    [See the full post at: US Adds More Jobs Than Expected in January, 517K v 185K with 3.4% Unemployment]

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