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For the second week in a row, the Department of Labor has put out data that shows underlying improvement in the labor market. The 4-week rolling average of non-seasonally adjusted claims, which we consider to be a more accurate representation of the state of the labor market, were down -4.2% year-over-year which is a sequential improvement versus the previous week's YoY change of -2.7%. This is good news, as it signals that the real labor market is, in fact, still strengthening.

JOBS: Solid Improvement - JS 1

Last week’s data was distorted by the incorporation of estimates for Connecticut and Illinois as both state offices were closed due to the snowstorm and unable to report official figures - meaning we had to wait for this week's data for a true update on the underlying labor market trend. All in all, the labor market shows solid signs of improvement 

JOBS: Solid Improvement - JS 2

JOBS: Solid Improvement - JS 7