Thursday, May 28, 2015

Weekly Initial Unemployment Claims increased to 282,000

by Bill McBride on 5/28/2015 08:34:00 AM

The DOL reported:

In the week ending May 23, the advance figure for seasonally adjusted initial claims was 282,000, an increase of 7,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 274,000 to 275,000. The 4-week moving average was 271,500, an increase of 5,000 from the previous week's revised average. The previous week's average was revised up by 250 from 266,250 to 266,500.

There were no special factors impacting this week's initial claims.
The previous week was revised to 275,000.

The following graph shows the 4-week moving average of weekly claims since 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 271,500.

This was above the consensus forecast of 270,000, and the low level of the 4-week average suggests few layoffs.