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Jobless Claims Remain Remarkably Steady

US DATA
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Initial jobless claims ticked slightly lower in the week to March 22, at 210k (vs 212k, upwardly revised up by 210k, meaning the net change was in line with consensus), maintaining a remarkable degree of steadiness at a relatively strong level.

  • 7 of the last 8 weeks have printed between 210-213k, suggesting stability in the labor market. There was no change from the prior week in the non-seasonally adjusted series (192k).
  • Continuing claims rose to 1,819k (from 1,795k, downwardly revised from 1,807k). That was a little higher than consensus but offset by the downward revision to prior, and hardly noteworthy versus the average of the previous 8 weeks (1,804k) - again remarkably flat after last week's annual revisions.
  • NSA continuing claims data are still above 2022 and 2023 readings for this time of year but on the low side compared to pre-pandemic years.


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Initial jobless claims ticked slightly lower in the week to March 22, at 210k (vs 212k, upwardly revised up by 210k, meaning the net change was in line with consensus), maintaining a remarkable degree of steadiness at a relatively strong level.

  • 7 of the last 8 weeks have printed between 210-213k, suggesting stability in the labor market. There was no change from the prior week in the non-seasonally adjusted series (192k).
  • Continuing claims rose to 1,819k (from 1,795k, downwardly revised from 1,807k). That was a little higher than consensus but offset by the downward revision to prior, and hardly noteworthy versus the average of the previous 8 weeks (1,804k) - again remarkably flat after last week's annual revisions.
  • NSA continuing claims data are still above 2022 and 2023 readings for this time of year but on the low side compared to pre-pandemic years.