by Bill McBride on 10/25/2012 08:30:00 AM
Thursday, October 25, 2012
The DOL reports:
In the week ending October 20, the advance figure for seasonally adjusted initial claims was 369,000, a decrease of 23,000 from the previous week's revised figure of 392,000. The 4-week moving average was 368,000, an increase of 1,500 from the previous week's revised average of 366,500.The previous week was revised up 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 368,000. This is 5,000 above the cycle low for the 4-week average of 363,000 in March.
Weekly claims were lower than the consensus forecast of 372,000.
And here is a long term graph of weekly claims:
Mostly moving sideways this year, but near the cycle bottom. The large swings over the previous two weeks were related to timing and technical factors.
Posted by Bill McBride on 10/25/2012 08:30:00 AM