by Bill McBride on 7/26/2012 08:30:00 AM
Thursday, July 26, 2012
The DOL reports:
In the week ending July 21, the advance figure for seasonally adjusted initial claims was 353,000, a decrease of 35,000 from the previous week's revised figure of 388,000.(Revised up from 386,000). The 4-week moving average was 367,250, a decrease of 8,750 from the previous week's revised average of 376,000.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 declined to 367,250.
The sharp swings over the last few weeks are apparently related to difficulty adjusting for auto plant shutdowns.
And here is a long term graph of weekly claims:
This was well below the consensus forecast of 380,000 and is the lowest level for the four week average since March.
Posted by Bill McBride on 7/26/2012 08:30:00 AM