The Positive Data Keeps Coming from the USD, As Jobless Claims Fall
Skerdian Meta•Thursday, February 25, 2021•1 min read
The economic data keeps proving Jerome Powell wrong. Earlier today we posted the US durable goods orders for January and the Q4 GDP, both of which came higher than previously. Now, the unemployment claims have declined by more than 100K, which doesn’t make Powell look too good, does it?
Initial Jobless Claims. Week Ending 20 February 2021
- Weekly initial jobless claims 730k vs 825k expected
- Prior 861k; revised to 841k
- Continuing claims 4,419k vs 4,460k expected
- Prior 4,494k; revised to 4,520k
The headline is lower than estimates and is also better than the previous week at least. The 4-week average for initial jobless claims fell to 807,750 in the week to 20 February from the prior week of 833,250.
That said, claims have sort of hit a floor and we’re seeing this relatively high figure week in, week out. So, there’s that to ponder if you are the Fed.
The largest increases in initial claims were in Illinois (+28,110), Ohio (+6,563), Idaho (+4,764), Kansas (+1,744), and California (+1,664).
Meanwhile, the largest decreases were in Maryland (-9,835), Rhode Island (-6,129), Georgia (-5,854), New Jersey (-4,630), and Texas (-4,234).
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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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