US jobless claims remain at low levels in December survey week

Initial jobless claims fell to 271k in the week ending December 12, printing in a touch below expectations (275k) in the survey week for the December employment report. Versus the same period in November, initial claims were down 1k this month.

The four-week average was unchanged at 271k, and unique factors were reported apart from estimated claims used for Louisiana. Continuing jobless claims for the week ending December 12 declined  7k to 2.238mn, but remain a bit above recent trend levels.

The four-week averaged moved up to 2.200mn (previous: 2.184mn), and the higher readings over the past two weeks rolled into the average. The insured unemployment rate was unchanged at 1.7% in the latest week.

"The modestly higher readings this week and last for continuing claims bear watching, but claims are often volatile this time of year, and we expect this increase to work its way out of the data over the next several weeks", says Barclays.