Thursday, October 08, 2015

Weekly Initial Unemployment Claims decreased to 263,000

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

The DOL reported:

In the week ending October 3, the advance figure for seasonally adjusted initial claims was 263,000, a decrease of 13,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 277,000 to 276,000. The 4-week moving average was 267,500, a decrease of 3,000 from the previous week's revised average. The previous week's average was revised down by 250 from 270,750 to 270,500.

There were no special factors impacting this week's initial claims.
The previous week was revised down to 276,000.

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 267,500.

This was below the consensus forecast of 271,000, and the low level of the 4-week average suggests few layoffs.