Thursday, April 08, 2010

Weekly Initial Unemployment Claims increase 18,000

by Bill McBride on 4/08/2010 08:35:00 AM

The DOL reports on weekly unemployment insurance claims:

In the week ending April 3, the advance figure for seasonally adjusted initial claims was 460,000, an increase of 18,000 from the previous week's revised figure of 442,000. The 4-week moving average was 450,250, an increase of 2,250 from the previous week's revised average of 448,000.
...
The advance number for seasonally adjusted insured unemployment during the week ending March 27 was 4,550,000, a decrease of 131,000 from the preceding week's revised level of 4,681,000.
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 increased this week by 2,250 to 450,250.

The dashed line on the graph is the current 4-week average. The current level of 460,000 (and 4-week average of 450,250) is still high, and suggests continuing weakness in the jobs market. Note: There is no way to compare directly between weekly claims, and net payrolls jobs.

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