by Bill McBride on 5/03/2012 08:37:00 AM
Thursday, May 03, 2012
The DOL reports:
In the week ending April 28, the advance figure for seasonally adjusted initial claims was 365,000, a decrease of 27,000 from the previous week's revised figure of 392,000. The 4-week moving average was 383,500, an increase of 750 from the previous week's revised average of 382,750.The previous week was revised up to 392,000 from 388,000.
The following graph shows the 4-week moving average of weekly claims since January 2000.
Click on graph for larger image.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims increased to 383,500.
This is the highest level for the 4-week moving average since last December.
And here is a long term graph of weekly claims:
This was below the consensus of 378,000. However, even though weekly claims declined, the 4-week average has increased for four straight weeks and is at the highest level this year.
Posted by Bill McBride on 5/03/2012 08:37:00 AM