Jobless claims rose by 17K in the latest week, but given we were coming off a print last week that was the lowest in more than 14 years, it's hard to get much better. For the latest week, the level of claims came in at 283K, which was slightly higher than the consensus expectation of 281K.
In spite of this week's increase, the four-week moving average declined by 3K down to 281K. This is also the lowest level for this indicator in more than 14 years (June 2000). Given the fact that the size of the US population has increased by over 10% since then makes this number even more impressive.
On a non-seasonally adjusted basis (NSA), jobless claims fell by 18K down to 255.5K. For the current week of the year, this is the lowest level since at least 2000, and 85K below the historical average of 339.9K for the current week of the year dating back to 2000.