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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.
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