by Bill McBride on 10/03/2013 08:37:00 AM
Thursday, October 03, 2013
The DOL reports:
In the week ending September 28, the advance figure for seasonally adjusted initial claims was 308,000, an increase of 1,000 from the previous week's revised figure of 307,000. The 4-week moving average was 305,000, a decrease of 3,750 from the previous week's revised average of 308,750.The previous week was revised up from 305,000.
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 305,000.
The 4-week average is at the lowest level since May 2007 (before the recession started). Claims were below the 313,000 consensus forecast.
Here is a long term graph of the 4-week average of weekly unemployment claims back to 1971.
The current level of weekly claims is consistent with a solidly growing economy.
Note: This information is collected by the states and will continue to be released.
Posted by Bill McBride on 10/03/2013 08:37:00 AM