Thursday, January 14, 2016

Weekly Initial Unemployment Claims increase to 284,000

by Bill McBride on 1/14/2016 08:33:00 AM

The DOL reported:

In the week ending January 9, the advance figure for seasonally adjusted initial claims was 284,000, an increase of 7,000 from the previous week's unrevised level of 277,000. The 4-week moving average was 278,750, an increase of 3,000 from the previous week's unrevised average of 275,750.

There were no special factors impacting this week's initial claims.
The previous week was unrevised at 277,000.

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 278,750.

This was above the consensus forecast of 275,000, however the low level of the 4-week average suggests few layoffs.