Wednesday, November 25, 2009

Weekly Initial Unemployment Claims Decline Sharply

by Bill McBride on 11/25/2009 08:30:00 AM

The DOL reports on weekly unemployment insurance claims:

In the week ending Nov. 21, the advance figure for seasonally adjusted initial claims was 466,000, a decrease of 35,000 from the previous week's revised figure of 501,000 [revised from 505,000]. The 4-week moving average was 496,500, a decrease of 16,500 from the previous week's revised average of 513,000.
...
The advance number for seasonally adjusted insured unemployment during the week ending Nov. 14 was 5,423,000, a decrease of 190,000 from the preceding week's revised level of 5,613,000.
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 16,500 to 496,500. This is the lowest level since last November.

This is good news - although the level is still high suggesting continuing job losses in November.

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