US: Initial jobless claims to remain low on tightening labor market conditions - Nomura

Analysts at Nomura expect both series of US jobless claims to remain low as the labor market continues to tighten.

Key Quotes

“Initial jobless claims have remained subdued recently in the face of a tightening labor market with healthy employment gains. For the week ending 22 July, initial claims increased 10k to 244k while the 4-week moving average remained unchanged at 244k. Since January, initial claims have remained within a range of 227-261k. Continuing claims also remain subdued; for the week ending 15 July, continuing claims decreased 13k to 1964k. While increasing marginally since April, continuing claims have declined overall by 97k during 2017.”