logo
  Join        Login             Stock Quote

Jobless Claims Fall Again, Near A 5-Year Low

 February 14, 2013 09:51 AM


New filings for jobless benefits declined a hefty 27,000 last week to a seasonally adjusted 341,000—just over the five-year low of 330,000 for the week through January 19, 2013. This is a volatile series and so it's best not to read too much into today's number. That said, the latest drop is another data point in line with the trend in recent history that reflects slow but persistent healing in the labor market.

The latest report shows that the four-week moving average for new claims settled at just over the 350,000 mark last week. That's just a hair over last month's five-year low of 351,750, which was set during the week through January 19.

[Related -Delta Air Lines (DAL): Panic Selling Makes This Airline Stock Ripe For A Quick Pop]

The basic message is that jobless claims continue to trend lower. The downward momentum has slowed recently, but that may be short-term noise. Only time will tell. But for now, it's clear that claims continue to drift lower. The year-over-year change for the unadjusted data is still negative, which is a good sign. The pace of the decline was only 1.5% last week vs. the year-earlier level. But the annual change has been known to bounce around quite a bit and so there's nothing unusual about the latest figures in the context of a generally falling trend.

[Related -Investing In The Time Of Ebola]

One data series is always suspect for deciding the big picture for the business cycle. But history suggests that when the economy is truly deteriorating, new claims will start trending higher and begin posting increasingly elevated levels on a year-over-year basis. For now, there's still no sign of worry by that standard.

Could the claims numbers be misleading us? Yes, of course. That's always a possibility, particularly for any lone data set. But considering that most of the other key indicators from the economic and financial trenches continue to post moderately positive signals, there's a fair degree of confidence for thinking that the labor market is still biased for slow growth in the near term.
iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageDelta Air Lines (DAL): Panic Selling Makes This Airline Stock Ripe For A Quick Pop

If there ever were a teaching moment in the stock market, it was this week. Earnings, trendlines and read on...

article imageInvesting In The Time Of Ebola

Volatility is back in the market. Whether we are being tossed and turned by the Ebola crisis, Russian read on...

article imageMarket Volatility Continues But Is Bottom In?

The market’s volatility continues, and it has the outlook and expectations of the financial media jumping read on...

article imageBrazil's Petrobras Attracts Bullish Options Play

Brazilian stocks advanced with ADR shares in state-owned oil company Petroleo Brasileiro SA (Ticker: PBR) read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.