Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update discusses jobless claims.

  • Consistent and strong improvement in new jobless claims over the past several months has slowed down last week and reversed some. New claims are up 8,000 to 362,000.
  • The four-week average also increased, though only marginally, to 355,000. New claims are still significantly below the 400,000 level which generally suggest improvement in job market.
  • Tomorrow’s big employment report will provide a clearer picture on February’s employment trend.   Still, based on trends in new jobless claims, there is a possibility of a strong February employment report.
  • If the last week’s reversal is only temporary, at the current pace at which jobs are being created, there may be something close to 3 million net new jobs in 2012.