by Bill McBride on 1/10/2013 08:37:00 AM
Thursday, January 10, 2013
The DOL reports:
In the week ending January 5, the advance figure for seasonally adjusted initial claims was 371,000, an increase of 4,000 from the previous week's revised figure of 367,000. The 4-week moving average was 365,750, an increase of 6,750 from the previous week's revised average of 359,000.
The previous week was revised down from 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 increased to 365,750.
Weekly claims are very volatile during and just after the holiday season, but even with the increase, the 4-week average is near the low for last year.
The recent spike was due to hurricane Sandy.
Weekly claims were above the 362,000 consensus forecast.
And here is a long term graph of weekly claims:
Note: There are large seasonal factors in December and January, and that can make for fairly large swings for weekly claims.
Posted by Bill McBride on 1/10/2013 08:37:00 AM