Jobless Claims Fall 2K to Close Final Week of 2019

The U.S. Labor Department reported initial jobless claims fell 2,000 to a seasonally adjusted 222,000 for the week ending December 28. The 4-week average increased by 4,750 to 233,250.

That’s the highest level for the average since January 27, 2018, when it was 235,750.

Forecasts ranged from a low of 216,000 to a high of 234,000. The consensus forecast was 222,000.

Lagging Jobless Claims Data

The advance seasonally adjusted insured unemployment rate remained unchanged at a very low 1.2% for the week ending December 14.

The advance number for seasonally adjusted insured unemployment during the week ending December 21 was 1,728,000, an increase of 5,000 from the previous week’s revised level. The previous week’s level was revised higher by 4,000 from 1,719,000 to 1,723,000.

The 4-week moving average came in at 1,711,750, a gain of 7,250 from the previous week’s revised average. The previous week’s average was revised higher by 1,000 from 1,703,500 to 1,704,500.

No state was triggered “on” the Extended Benefits program during the week ending December 7.

The highest insured unemployment rates in the week ending December 14 were in Alaska (3.2), New Jersey (2.2), Pennsylvania (2.1), West Virginia (2.1), Connecticut (2.0), Montana (2.0), the Virgin Islands (2.0), California (1.9), Minnesota (1.9), Illinois (1.8), and Washington (1.8).

The largest increases in initial claims for the week ending December 21 were in Missouri (+3,246), Iowa (+2,423), California (+2,422), New Jersey (+2,195), and Illinois (+1,593), while the largest decreases were in Texas (-2,356), New York (-2,046), Georgia (-1,710), West Virginia (-748), and Pennsylvania (-724).