Job Market Still Healthy

- Initial Jobless Claims rose to 316K this week versus estimates of 310K and 309K the prior week.

- Continuing Claims rose to 2559K versus estimates of 2520K and 2520K prior.

BOTTOM LINE: First-time claims for jobless benefits rose last week to a level that still indicates strength in the labor market, Bloomberg said. The four-week moving-average of jobless claims rose slightly to 307,750 from 306,000 the prior week. Forty-four states and territories reported a decrease in new claims, while nine reported an increase. The unemployment rate among those eligible for benefits, which tracks the US unemployment rate, held at a historically low 1.9%. I continue to believe the job market will remain healthy over the intermediate-term without generating substantial unit labor cost increases.