by Bill McBride on 5/20/2010 08:30:00 AM
Thursday, May 20, 2010
The DOL reports on weekly unemployment insurance claims:
In the week ending May 15, the advance figure for seasonally adjusted initial claims was 471,000, an increase of 25,000 from the previous week's revised figure of 446,000. The 4-week moving average was 453,500, an increase of 3,000 from the previous week's unrevised average of 450,500.Click on graph for larger image in new window.
The advance number for seasonally adjusted insured unemployment during the week ending May 8 was 4,625,000, a decrease of 40,000 from the preceding week's revised level of 4,665,000.
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 3,000 to 453,500.
The dashed line on the graph is the current 4-week average. 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. The current level of 471,000 (and 4-week average of 453,500) is still high, and suggests ongoing weakness in the labor market.
Posted by Bill McBride on 5/20/2010 08:30:00 AM