Jobless claims come in at 388K not showing much change from February

Slightly higher than expected, the level of initial jobless came in at 388K in the March 26 week. The latest four-week average, at 394,250 for a 3,250 increase, doesn't show much change from the late February readings.

However while we are stalled, given the previous data and other data from other sources, it is only a temporary stall.

Continuing claims do show a decrease from a month ago though decreases for this series are difficult to gauge as they reflect both hiring but also the expiration of benefits. Continuing claims fell 51,000 in data for the March 19 week with the four-week average of 3.765 million down nearly 150,000 from the prior month. The unemployment rate for insured workers is unchanged at 3.0 percent.Via DOL:
In the week ending March 26, the advance figure for seasonally adjusted initial claims was 388,000, a decrease of 6,000 from the previous week's revised figure of 394,000. The 4-week moving average was 394,250, a increase of 3,250 from the previous week's revised average of 391,000.

The advance seasonally adjusted insured unemployment rate was 3.0 percent for the week ending March 19, unchanged from the prior week's unrevised rate of 3.0 percent.

The advance number for seasonally adjusted insured unemployment during the week ending March 19 was 3,714,000, a decrease of 51,000 from the preceding week's revised level of 3,765,000. The 4-week moving average was 3,765,250, a decrease of 32,750 from the preceding week's revised average of 3,798,000.


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