by Bill McBride on 1/03/2013 08:30:00 AM
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Thursday, January 03, 2013
The DOL reports:
In the week ending December 29, the advance figure for seasonally adjusted initial claims was 372,000, an increase of 10,000 from the previous week's revised figure of 362,000. The 4-week moving average was 360,000, an increase of 250 from the previous week's revised average of 359,750.
The previous week was revised up from 350,000.
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 360,000.
Weekly claims are very volatile during the holiday season, but the 4-week average finished 2012 near the low for the year.
Weekly claims were above the 363,000 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 1/03/2013 08:30:00 AM