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Thursday, January 17, 2013

Weekly Initial Unemployment Claims decline to 335,000

by Bill McBride on 1/17/2013 09:25:00 AM

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.

All current Employment Graphs

Housing Starts increase sharply to 954 thousand SAAR in December

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