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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Initial claims came in lower than expected at a seasonally adjusted 209k (cons 218k) in the week to Mar 9 after a downward revised 210k (initial 217k).
- Continuing claims saw a larger surprise lower at a seasonally adjusted 1811k (cons 1905k) in the week to Mar 2 after a heavily downward revised 1795k (initial 1906k).
- These larger than usual prior week revisions come as part of the annual seasonal adjustment changes, with limited impact on initial claims but an overhaul in the continuing claims trend.
- The four-week average of initial claims dipped 1k to 208k vs the 212k in last week’s data, still historically low vs considering the 218k averaged in 2019 and close to recent lows of 201k seen in January.
- Continuing claims meanwhile have a far flatter profile now, indicating less of a squeeze on re-hiring than first indicated. The 1811k as of Mar 2 is close to highs of 1829k and only slightly above the 1800k averaged since Jul 2023. That compares to a series that was previously seen peaking at 1925k having ramped higher from 1665k in Sep’23. The original seasonal adjustment had looked to overly bias continuing claims higher in that period but this is still a sizeable adjustment.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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