Thursday, January 15, 2015

Weekly Initial Unemployment Claims increased to 316,000

by Bill McBride on 1/15/2015 08:35:00 AM

The DOL reported:

In the week ending January 10, the advance figure for seasonally adjusted initial claims was 316,000, an increase of 19,000 from the previous week's revised level. The previous week's level was revised up by 3,000 from 294,000 to 297,000. The 4-week moving average was 298,000, an increase of 6,750 from the previous week's revised average. The previous week's average was revised up by 750 from 290,500 to 291,250.

There were no special factors impacting this week's initial claims
The previous week was revised yp to 297,000.

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 increased to 298,000.

This was higher than the consensus forecast of 295,000, and the level suggests few layoffs.  Note: We might start seeing an increase in unemployment claims due to layoffs in oil producing states.