Thursday, December 24, 2015

Weekly Initial Unemployment Claims decrease to 267,000

by Bill McBride on 12/24/2015 08:34:00 AM

The DOL reported:

In the week ending December 19, the advance figure for seasonally adjusted initial claims was 267,000, a decrease of 5,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 271,000 to 272,000. The 4-week moving average was 272,500, an increase of 1,750 from the previous week's revised average. The previous week's average was revised up by 250 from 270,500 to 270,750.

There were no special factors impacting this week's initial claims.
The previous week was revised up to 272,000.

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 increased to 272,500.

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

Average weekly unemployment claims in 2015 will be the lowest in over 40 years (when the workforce was much smaller).