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Texas Initial Jobless Claims Surge Higher As Continuing Claims Jump Most In 2015

For the 9th week in a row, the smoothed average of initial jobless claims in Texas surged (Other Shale States - PA, ND, and CO also saw a notable rise in claims). While Tennessee's levels were estimated, the broad levels of claims send a mixed message. Initial claims beat expectations, fell from 304k to 283k with the trend now clearly flat since September. However, Continuing Claims jumped 58k to 2.425 million - the biggest jump in 2015, notably missing expectations. The trend of employmenmt has clearly changed...

 

It appears the trend of employment has changed...

 

But The Shale States are suffering... Smoothed average of initial claims (lagged a week)

 

 

 

Charts: Bloomberg