Thursday, April 07, 2016

Weekly Initial Unemployment Claims decrease to 267,000

by Bill McBride on 4/07/2016 08:35:00 AM

The DOL reported:

In the week ending April 2, the advance figure for seasonally adjusted initial claims was 267,000, a decrease of 9,000 from the previous week's unrevised level of 276,000. The 4-week moving average was 266,750, an increase of 3,500 from the previous week's unrevised average of 263,250.

There were no special factors impacting this week's initial claims. This marks 57 consecutive weeks of initial claims below 300,000, the longest streak since 1973.
The previous week was unrevised.

Note: 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 266,750.

This was below the consensus forecast of 272,000. The low level of the 4-week average suggests few layoffs.