by Bill McBride on 6/10/2010 08:30:00 AM
Thursday, June 10, 2010
The DOL reports on weekly unemployment insurance claims:
In the week ending June 5, the advance figure for seasonally adjusted initial claims was 456,000, a decrease of 3,000 from the previous week's revised figure of 459,000 [revised up from 453,000]. The 4-week moving average was 463,000, an increase of 2,500 from the previous week's revised average of 460,500.Click on graph for larger image in new window.
The advance number for seasonally adjusted insured unemployment during the week ending May 29 was 4,462,000, a decrease of 255,000 from the preceding week's revised level of 4,717,000.
This graph shows the 4-week moving average of weekly claims since January 2000.
The four-week average of weekly unemployment claims increased this week by 2,500 to 463,000.
The dashed line on the graph is the current 4-week average. Initial weekly claims first fell to this level in December 2009, and have been at the same level for about 6 months. The current level of 456,000 (and 4-week average of 463,000) is still high, and suggests ongoing weakness in the labor market.
Posted by Bill McBride on 6/10/2010 08:30:00 AM