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.
Initial jobless claims recorded a seasonally adjusted 212k (cons 220k) in the week to Feb 10. Prior week's data saw a minor upward revision to 220k from 218k prior.
* The four-week average pushes 6k higher to 219k, the fourth consecutive weekly increase from the latest low of 203k on Jan 19. This sees the 4-week average move broadly in-line with the 2019 average (218k).
* The -13k fall in the NSA data to 222k follows last week's -29k move lower. 2024's NSA data continues to trend at a lower-than-typical level for this time of year.
* Continuing claims were higher than expected at 1895k (cons 1880k), offset somewhat by last week's downwardly revised 1865k (1871k prior).
* NSA continuing claims rose +17k on the week to 2147k, after last week's was revised -7k lower to 2130k. 2024's NSA continuing claims continue to track above 2022 and 2023 equivalent levels even if they’re still at the low end of pre-pandemic ranges.
* Overall, the release contains few surprises, with no clear signs of stress/deteriorating in the labour market.
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.