Thursday, November 03, 2011

Weekly Initial Unemployment Claims decline below 400,000

by Bill McBride on 11/03/2011 08:30:00 AM

The DOL reports:

In the week ending October 29, the advance figure for seasonally adjusted initial claims was 397,000, a decrease of 9,000 from the previous week's revised figure of 406,000. The 4-week moving average was 404,500, a decrease of 2,000 from the previous week's revised average of 406,500.
The following graph shows the 4-week moving average of weekly claims since January 2000.

The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims increased this week to 404,500.

Click on graph for larger image.

This is down from September, but still elevated - and still above the post-recession lows of earlier this year.

For a longer term graph, see the employment graph gallery.