Initial Jobless Claims declined by 1,000 in the latest week, as 202,000 people filed for unemployment benefits for the first time. Continuing Claims also fell by 34,000, with 1.834 million people still receiving benefits after filing their initial claim.
What’s the bottom line? Initial Jobless Claims are historically lower during the holiday season, as layoffs tend to wane before Christmas and New Year’s. And while Continuing Claims have moved lower over the last few weeks, they are still elevated and suggest it’s becoming harder for people to find employment once they are let go.