Jobless Claims Volatile in the US, But the Trend Remains Bearish
Unemployment claims failed to fall below 700K last week
Skerdian Meta•Thursday, April 8, 2021•1 min read
Jobless claim surged during the pandemic in the US, as they did everywhere else. At some point the unofficial unemployment rate reached 40 million while the weekly jobless claims reached 6 million.
They have been declining since then, falling below 1 million earlier this year and were expected to continue the decline below 700K last week, but missed expectations and increased instead. Although, the overall trend remains bearish.
Initial jobless claims for the week ending April 3
- Initial jobless claims 744K vs 680K expected
- Prior was 719K
- Four week average 724K vs 721K prior
- Continuing claims 3734K vs 3638K expected
- Prior continuing claims 3638K
- PUA claims +152K vs +237K prior
Easter could skew these numbers for a couple weeks. The total number of people receiving some kind of unemployment benefit is 18,164,588.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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