Thursday, October 22, 2015

Weekly Initial Unemployment Claims increased to 259,000, 4-Week Average Lowest since 1973

by Bill McBride on 10/22/2015 08:34:00 AM

The DOL reported:

In the week ending October 17, the advance figure for seasonally adjusted initial claims was 259,000, an increase of 3,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 255,000 to 256,000. The 4-week moving average was 263,250, a decrease of 2,000 from the previous week's revised average. This is the lowest level for this average since December 15, 1973 when it was 256,750. The previous week's average was revised up by 250 from 265,000 to 265,250.

There were no special factors impacting this week's initial claims.
The previous week was revised up to 256,000.

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 263,250.  This is the lowest level in over 40 years.

This was below the consensus forecast of 265,000, and the low level of the 4-week average suggests few layoffs.