Thursday, August 13, 2015

Weekly Initial Unemployment Claims increased to 274,000, 4-Week Average Lowest since 2000

by Bill McBride on 8/13/2015 09:15:00 AM

The DOL reported:

In the week ending August 8, the advance figure for seasonally adjusted initial claims was 274,000, an increase of 5,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 270,000 to 269,000. The 4-week moving average was 266,250, a decrease of 1,750 from the previous week's revised average. This is the lowest level for this average since April 15, 2000 when it was 266,250. The previous week's average was revised down by 250 from 268,250 to 268,000.

There were no special factors impacting this week's initial claims.
The previous week was revised down by 1,000.

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 decreased to 266,250.

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

This ties, with April 15, 2000, the lowest level for the 4-week average since 1973 (over 40 years).