Jobless claims rise to 409K in second best reading of the recovery

Jobless claims haven't been too bumpy this holiday period, moving convincingly lower. Claims did rise to 409K in the January 1 week yet follow the prior week's 391K for the second best reading of the recovery (prior week revised from 388K). The four-week average is telling the story, down 3,500 in the week for a 410,750 level that is down nearly 20K from a month ago.

Continuing claims also continue to move lower, down 47K in data for the December 25 week to 4.103 million. The four-week average of 4.123 million is trending about 100K lower from a month ago. The unemployment rate for insured workers is unchanged at 3.3%.

Jobless claims data, not to mention ADP's big call, are signalling solid strength for tomorrow's big employment report.


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