Thursday, October 01, 2015

Weekly Initial Unemployment Claims increased to 277,000

by Bill McBride on 10/01/2015 08:35:00 AM

The DOL reported:

In the week ending September 26, the advance figure for seasonally adjusted initial claims was 277,000, an increase of 10,000 from the previous week's unrevised level of 267,000. The 4-week moving average was 270,750, a decrease of 1,000 from the previous week's unrevised average of 271,750.

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

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 270,750.

This was above the consensus forecast of 272,000, and the low level of the 4-week average suggests few layoffs.