Thursday, May 12, 2022

New jobless claims rise slightly, but continuing claims make another 50+ year low


 - by New Deal democrat

Initial jobless claims rose 1,000 to 203,000, continuing above the recent 50+ year low of 166,000 set in March. The 4 week average also rose by 4,250 to 192,750, compared with the all-time low of 170,500 set five weeks ago. On the other hand, continuing claims declined -44,000 to 1,343,000, yet another new 50 year low (but still well above their 1968 all-time low of 988,000):

The graph above shows a slight trend of increased new layoffs, which may or may not  just be noise. In any event, the tightest market for keeping a job in half a century continues. With so many other data points weakening, this is probably the brightest spot in the entire economy.