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Thursday, January 03, 2013

Weekly Initial Unemployment Claims increase to 372,000

by Bill McBride on 1/03/2013 08:30:00 AM

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.

All current Employment Graphs

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