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Initial Claims Continue To Imply Robust Labour Market

US DATA
  • With attention firmly on US CPI at the time, weekly jobless claims were again stronger than expected. They continue to show no sign of labour market deterioration with both initial and continued claims below the 2019 average.
  • Initial claims edged 1k lower to 205k (cons 215k) for the week to Jan 7, helping push the four-week average to the lowest since mid-October at 213k.
  • Continued claims also surprised, at 1634k (cons 1710k) from 1697k.

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