by Bill McBride on 1/17/2013 09:25:00 AM
Thursday, January 17, 2013
The DOL reports:
In the week ending January 12, the advance figure for seasonally adjusted initial claims was 335,000, a decrease of 37,000 from the previous week's revised figure of 372,000. The 4-week moving average was 359,250, a decrease of 6,750 from the previous week's revised average of 366,000.
The previous week was revised up from 371,000.
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 decreased to 359,250.
This was the lowest level for weekly claims since January 2008, and the 4-week average is near the low since early 2008. Note: Data for January has large seasonal adjustments - and can be very volatile, but this is still good news.
Weekly claims were below the 368,000 consensus forecast.
• Housing Starts increase sharply to 954 thousand SAAR in December
Posted by Bill McBride on 1/17/2013 09:25:00 AM