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Weekly Initial Unemployment Claims increase to 462,000

By Anonymous

The DOL reports on weekly unemployment insurance claims:

In the week ending Oct. 9, the advance figure for seasonally adjusted initial claims was 462,000, an increase of 13,000 from the previous week's revised figure of 449,000 [up from 445,000]. The 4-week moving average was 459,000, an increase of 2,250 from the previous week's revised average of 456,750.

Click on graph for larger image in new window.

This graph shows the 4-week moving average of weekly claims since January 2000.

The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims increased this week by 2,250 to 459,000.

The 4-week moving average has been moving sideways at an elevated level since last December - and that suggests a weak job market.

Note: most revisions have been slightly up over the last year or so. The average revision has been just over 2,000. But if you follow the 4 week moving average (as I do), this would only impact the last data point - and only by about 500. I couldn't see that on the graph! Not a big deal.

Full post as published by Calculated Risk on October 14, 2010 (boomark / email).