Wednesday, December 31, 2014

Weekly Initial Unemployment Claims increased to 298,000

by Bill McBride on 12/31/2014 08:34:00 AM

The DOL reported:

In the week ending December 27, the advance figure for seasonally adjusted initial claims was 298,000, an increase of 17,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 280,000 to 281,000. The 4-week moving average was 290,750, an increase of 250 from the previous week's revised average. The previous week's average was revised up by 250 from 290,250 to 290,500.

There were no special factors impacting this week's initial claims
The previous week was revised up slightly.

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 slightly to 290,750.

This was higher than the consensus forecast of 286,000, and the level suggests few layoffs.