by Bill McBride on 7/29/2010 08:30:00 AM
Thursday, July 29, 2010
The DOL reports on weekly unemployment insurance claims:
In the week ending July 24, the advance figure for seasonally adjusted initial claims was 457,000, a decrease of 11,000 from the previous week's revised figure of 468,000. The 4-week moving average was 452,500, a decrease of 4,500 from the previous week's revised average of 457,000.Click on graph for larger image in new window.
The advance number for seasonally adjusted insured unemployment during the week ending July 17 was 4,565,000, an increase of 81,000 from the preceding week's revised level of 4,484,000.
This graph shows the 4-week moving average of weekly claims since January 2000.
The four-week average of weekly unemployment claims decreased this week by 4,500 to 452,500.
The dashed line on the graph is the current 4-week average.
The 4-week average of initial weekly claims has been at about the same level since December 2009 (eight months) and the 4-week average of 452,500 is high historically, and suggests a weak labor market.
Posted by Bill McBride on 7/29/2010 08:30:00 AM