Jobless claims fall by 42,000 filings amid seasonal volatility
Jobless claims dipped by 42,000 filings for the week ending Dec. 21, from the previous week’s revised figure of 380,000, following seasonal adjustments, the U.S. Department of Labor said in it latest report.
"Volatility tied to seasonal adjustment for the holidays continues to skew jobless claims," analysts with Econoday said. "Initial claims have swung back and forth in a very wide 75,000 range the last 4 weeks which puts the focus on the 4-week average which, at 348,000, is about 15,000 higher than the month-ago trend."
The 4-week moving average increased by 4,250 filings from the previous week's revised average of 343,750.
While this is a negative report, it is still an unreliable indication for the jobs market, Econoday added.