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Continuing Claims Mostly In Line, NSA Data At Higher End Of Recent Years

US DATA
  • Continuing claims meanwhile were almost in-line with expectations, increasing to a seasonally adjusted 1785k (cons 1782k) in the week to Apr 27 after a downward revised 1768k (initial 1774k).
  • It sees the level of SA continuing claims move back nearer the middle of the recent range, for still no sign of a notable deterioration in re-hiring activity.
  • In NSA terms, the 1748k drifts a little higher on a relative basis compared to both pre and post-pandemic years.
  • New York (+9.3k) and California (+4.3k) were the main upside contributors on the week (vs national claims -6k in NSA terms), with New York also the main upside driver in the initial jobless claims data noted above.

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