The number of Americans filling for unemployment benefits decreased by 17 thousand to 216 thousand in the week ending January 5 from the previous week’s revised level of 233 thousand and below market expectations of 225 thousand. According to unadjusted data, the largest declines were reported in New Jersey (-8,132); Ohio (-5,639); Michigan (-5,058); Massachusetts (-3,592) and Iowa (-3,171) while the biggest increases were seen in New York (+26,446); Georgia (+10,420); Texas (+3,657) and South Carolina (+3,331). Initial Jobless Claims in the United States averaged 353.38 Thousand from 1967 until 2019, reaching an all time high of 695 Thousand in October of 1982 and a record low of 162 Thousand in November of 1968.
Initial Jobless Claims in the United States is expected to be 215.00 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 230.00 in 12 months time. In the long-term, the United States Initial Jobless Claims is projected to trend around 240.00 Thousand in 2020, according to our econometric models.