Thursday, July 14, 2016

Weekly Initial Unemployment Claims unchanged at 254,000

by Bill McBride on 7/14/2016 08:33:00 AM

The DOL reported:

In the week ending July 9, the advance figure for seasonally adjusted initial claims was 254,000, unchanged from the previous week's unrevised level of 254,000. The 4-week moving average was 259,000, a decrease of 5,750 from the previous week's unrevised average of 264,750.

There were no special factors impacting this week's initial claims. This marks 71 consecutive weeks of initial claims below 300,000, the longest streak since 1973.
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 declined to 259,000.

This was lower than the consensus forecast. The low level of claims suggests relatively few layoffs.