The number of Americans filing for unemployment benefits fell by 10 thousand to 204 thousand in the week ending January 11th, compared to 214 thousand in the previous week and against markets expectations of 216 thousand new claims. It was the fourth consecutive week of decreases in jobless claims and the lowest level since the week ended November 30th, 2019. The 4-week moving average was 216,250, a decrease of 7,750 from the previous week's unrevised average of 224,000. According to unadjusted data, the biggest declines in jobless claims were reported in New York (-21,395), Wisconsin (-4,364) and South Carolina (-2,978) while the highest rises were seen in California (15,844), Texas (8,857) and Missouri (3,023). Meantime, continuing jobless claims decreased by 37 thousand to 1767 thousand. Initial Jobless Claims in the United States averaged 350.76 Thousand from 1967 until 2020, reaching an all time high of 695 Thousand in October of 1982 and a record low of 162 Thousand in November of 1968. source: U.S. Department of Labor
Initial Jobless Claims in the United States is expected to be 216.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Initial Jobless Claims in the United States to stand at 237.91 in 12 months time. In the long-term, the United States Initial Jobless Claims is projected to trend around 267.12 Thousand in 2020, according to our econometric models.