US: Initial jobless claims steady as labor market strength continues - Nomura

Research Team at Nomura explains that initial claims remained steady at 258k for the week ending 25 March while slightly higher than the consensus expectation of 247k, latest reading comes in just below last week’s 261k and remains close to the downward trend we’ve seen during the recovery.

Key Quotes

“The four-week moving average ticked up slightly to 254k from 247k. For the week ending 18 March, continuing claims increased 65k to 2052k after dropping by 38k the week before. Both initial and continuing claims remain near their lows during the recovery, indicating that businesses continue to hold on to workers in a healthy labor market. We expect this series to remain low as the labor market continues to show strength.”