by Bill McBride on 10/11/2012 08:30:00 AM
Thursday, October 11, 2012
The DOL reports:
In the week ending October 6, the advance figure for seasonally adjusted initial claims was 339,000, a decrease of 30,000 from the previous week's revised figure of 369,000. The 4-week moving average was 364,000, a decrease of 11,500 from the previous week's revised average of 375,500.The previous week was revised up from 367,000.
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 sharply to 364,000. This is just above the cycle low for the 4-week average of 363,000 in March.
Weekly claims were lower than the consensus forecast of 370,000.
And here is a long term graph of weekly claims:
Mostly moving sideways this year, but starting to decline again recently.
Posted by Bill McBride on 10/11/2012 08:30:00 AM