by Bill McBride on 7/23/2015 08:34:00 AM
Thursday, July 23, 2015
The DOL reported:
In the week ending July 18, the advance figure for seasonally adjusted initial claims was 255,000, a decrease of 26,000 from the previous week's unrevised level of 281,000. This is the lowest level for initial claims since November 24, 1973 when it was 233,000. The 4-week moving average was 278,500, a decrease of 4,000 from the previous week's unrevised average of 282,500.The previous week was unrevised.
There were no special factors impacting this week's initial claims.
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 decreased to 278,500.
This was below to the consensus forecast of 279,000, and the low level of the 4-week average suggests few layoffs. This was also the reference week for the BLS employment report, and suggests few layoffs during the reference week.
Posted by Bill McBride on 7/23/2015 08:34:00 AM