US initial jobless claims 213K vs 216K estimate

• Priorr Week initial jobless claims 213K revised to 215K
• Initial jobless claims 213K vs 216K estimate
• 4-week MA 217K vs 218.25K last week
• Continuing Claims 1.907M vs 1.908M estimate. This is the highest level for insured unemployment since November 13, 2021 when it was 1,974,000
• Prior Continuing Claims 1.898M vs 1.908M previously reported
• 4-week MA of continuing claims 1.890M vs 1.877M. This is the highest level for this average since
  November 27, 2021 when it was 1,928,000. The levels suggest that those losing jobs are not getting them back as quickly.

Other details:

• The highest insured unemployment rates in the week ending November 9 were in New Jersey (2.3), California (1.9),
  Washington (1.9), Alaska (1.8), Puerto Rico (1.8), Nevada (1.6), Rhode Island (1.6), Illinois (1.5), Massachusetts (1.5),
  and New York (1.5).
• The largest increases in initial claims for the week ending November 16 were in Utah (+538), Minnesota (+381),
  Missouri (+252), Idaho (+200), and Louisiana (+199),
• The largest decreases were in California (-5,088), Georgia
  (-1,952), New Jersey (-1,423), Texas (-1,160), and Ohio (-1,125).

Although the initial jobless claims remain low, the continuing claims are ticking higher. The continuing claims data is at the highest level since November 2021. That is a cooling off for that measure.

This article was written by Greg Michalowski at www.forexlive.com.