US: Initial jobless claims ticked up 3k to 250k - Nomura

US initial jobless claims ticked up 3k to 250k for the week ended 30 December, raising the four-week moving average to 242k, notes the research team at Nomura.

Key Quotes

“Claims data tend to fluctuate more during the December-January months as large changes often occur in seasonal employment industries. That said, initial claims remain quite low by historical standards, consistent with sustained momentum in the labor market. Continuing unemployment insurance claims decreased 37k to 1914k for the week ended 23 December, while the insured unemployment rate remained unchanged at 1.4%.”