Thursday, December 04, 2014

Weekly Initial Unemployment Claims decreased to 297,000

by Bill McBride on 12/04/2014 08:34:00 AM

The DOL reported:

In the week ending November 29, the advance figure for seasonally adjusted initial claims was 297,000, a decrease of 17,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 313,000 to 314,000. The 4-week moving average was 299,000, an increase of 4,750 from the previous week's revised average. The previous week's average was revised up by 250 from 294,000 to 294,250.

There were no special factors impacting this week's initial claims
The previous week was revised up to 314,000

The following graph shows the 4-week moving average of weekly claims since January 1971.

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 299,000.

This was close to the consensus forecast of 300,000, and the level suggests few layoffs.