by Bill McBride on 5/27/2010 08:30:00 AM
Thursday, May 27, 2010
The DOL reports on weekly unemployment insurance claims:
In the week ending May 22, the advance figure for seasonally adjusted initial claims was 460,000, a decrease of 14,000 from the previous week's revised figure of 474,000. The 4-week moving average was 456,500, an increase of 2,250 from the previous week's revised average of 454,250.Click on graph for larger image in new window.
The advance number for seasonally adjusted insured unemployment during the week ending May 15 was 4,607,000, a decrease of 49,000 from the preceding week's revised level of 4,656,000.
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 456,500.
The dashed line on the graph is the current 4-week average. The current level of 460,000 (and 4-week average of 456,500) is still high, and suggests ongoing weakness in the labor market.
Still disappointing ... the 4-week average has been moving sideways for almost five months.
Posted by Bill McBride on 5/27/2010 08:30:00 AM