by Bill McBride on 5/24/2012 08:30:00 AM
Thursday, May 24, 2012
The DOL reports:
In the week ending May 19, the advance figure for seasonally adjusted initial claims was 370,000, a decrease of 2,000 from the previous week's revised figure of 372,000. The 4-week moving average was 370,000, a decrease of 5,500 from the previous week's revised average of 375,500.The previous week was revised up from 370,000 to 372,000.
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 decreased to 370,000.
The 4-week average has declined for three consecutive weeks. The average has been between 363,000 and 384,000 all year.
And here is a long term graph of weekly claims:
This was close the consensus forecast of 371,000.
Posted by Bill McBride on 5/24/2012 08:30:00 AM