Thursday, November 19, 2009

Weekly Initial Unemployment Claims: 505,000

by Bill McBride on 11/19/2009 08:30:00 AM

The DOL reports on weekly unemployment insurance claims:

In the week ending Nov. 14, the advance figure for seasonally adjusted initial claims was 505,000, unchanged from the previous week's revised figure of 505,000. [Revised from 502,000] The 4-week moving average was 514,000, a decrease of 6,500 from the previous week's revised average of 520,500.
...
The advance number for seasonally adjusted insured unemployment during the week ending Nov. 7 was 5,611,000, a decrease of 39,000 from the preceding week's revised level of 5,650,000.
Weekly Unemployment Claims Click on graph for larger image in new window.

This graph shows the 4-week moving average of weekly claims since 1971.

The four-week average of weekly unemployment claims decreased this week by 6,500 to 514,000, and is now 144,750 below the peak in April.

The level is still very high suggesting continuing job losses in November.