Thursday, March 03, 2016

Weekly Initial Unemployment Claims increase to 278,000

by Bill McBride on 3/03/2016 08:34:00 AM

The DOL reported:

In the week ending February 27, the advance figure for seasonally adjusted initial claims was 278,000, an increase of 6,000 from the previous week's unrevised level of 272,000. The 4-week moving average was 270,250, a decrease of 1,750 from the previous week's unrevised average of 272,000.

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 270,250.

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