Thursday, August 05, 2010

Weekly Initial Unemployment Claims increase to 479,000

by Bill McBride on 8/05/2010 08:30:00 AM

The DOL reports on weekly unemployment insurance claims:

In the week ending July 31, the advance figure for seasonally adjusted initial claims was 479,000, an increase of 19,000 from the previous week's revised figure of 460,000. The 4-week moving average was 458,500, an increase of 5,250 from the previous week's revised average of 453,250.
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The advance number for seasonally adjusted insured unemployment during the week ending July 24 was 4,537,000, a decrease of 34,000 from the preceding week's revised level of 4,571,000.
Weekly Unemployment Claims Click on graph for larger image in new window.

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 5,250 to 458,500.

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 458,500 is high historically, and suggests a weak labor market.

This is the highest number of initial weekly claims since April.

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