by Bill McBride on 5/13/2010 08:33:00 AM
Thursday, May 13, 2010
The DOL reports on weekly unemployment insurance claims:
In the week ending May 8, the advance figure for seasonally adjusted initial claims was 444,000, a decrease of 4,000 from the previous week's revised figure of 448,000 [revised up from 444,000]. The 4-week moving average was 450,500, a decrease of 9,000 from the previous week's revised average of 459,500.Click on graph for larger image in new window.
The advance number for seasonally adjusted insured unemployment during the week ending May 1 was 4,627,000, an increase of 12,000 from the preceding week's revised level of 4,615,000..
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 9,000 to 450,500.
The dashed line on the graph is the current 4-week average. The current level of 444,000 (and 4-week average of 450,500) is still high, and suggests ongoing weakness in the labor market.
Although declining over the last few weeks, the 4-week average first declined to this level at the end of December 2009, and has been at this level for almost five months.
Posted by Bill McBride on 5/13/2010 08:33:00 AM