US Jobless Claims Fall for 3rd Time in 4 Weeks

US Jobless Claims Fall for 3rd Time in 4 Weeks

US Jobless Claims Fall for 3rd Time in 4 Weeks


US filings for unemployment benefits fell for the 3rd time in 4 weeks and remain near the lowest level in 48 years, underscoring tightness in the job market, Labor Department figures showed Thursday.

Highlights of Jobless Claims (Week Ended 10 March)
  • Jobless claims decreased by 4-K to 226-K (est. 228-K)
  • Continuing claims rose by 4-K to 1.879-M  in week ended 3 March  (data reported with 1-week lag)
  • 4-week average of initial claims, a less-volatile measure than the weekly figure, fell to 221,500 from the prior week’s 222,250; year-earlier figure was 243,000

Key Takeaways

The US labor market is in good shape, with weekly applications for jobless benefits over the past 3 years below the 300,000 mark that is consistent with good health. The figures reflect how companies are holding on to employees and highlight a big problem they face: finding people with necessary skills to fill open positions.

The data follow the February jobs report last week showing employers added the most workers since mid-2016, while the labor-force participation rate had the biggest jump in almost eight years.

Other Details

  • Prior week’s reading was revised to 230,000 from 231,000
  • Unemployment rate among people eligible for benefits unchanged at 1.3% in week ended 3 March

Thursday, the major US stock market indexes finished at: DJIA +115.54 at 24873.66, NAS Comp -15.07 at 7481.73, S&P 500 -2.15 at 2747.33

Volume: Trade on the NYSE came in at: 814-M/shares exchanged

  • NAS Comp +8.4% YTD
  • S&P 500 +2.8% YTD
  • DJIA +0.6% YTD
  • Russell 2000 +2.7% YTD

HeffX-LTN’s Market Indexes Technical Analysis

Date Symbol Price Technical Analysis Support Resistance
15 March 2018 QQQ 171.42 Neutral (0.22) 170.61 175.68
15 March 2018 DIA 247.88 Neutral (-0.19) 245.19 249.33
15 March 2018 SPY 275.3 Neutral (0.11) 274.69 278.11

Stay tuned…

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