Thursday, December 01, 2016

Weekly Initial Unemployment Claims increase to 268,000

by Bill McBride on 12/01/2016 08:50:00 AM

The DOL reported:

In the week ending November 26, the advance figure for seasonally adjusted initial claims was 268,000, an increase of 17,000 from the previous week's unrevised level of 251,000. The 4-week moving average was 251,500, an increase of 500 from the previous week's unrevised average of 251,000.

There were no special factors impacting this week's initial claims. This marks 91 consecutive weeks of initial claims below 300,000, the longest streak since 1970.
emphasis added
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 increased to 251,500.

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