Thursday, December 15, 2016

Weekly Initial Unemployment Claims decrease to 254,000

by Bill McBride on 12/15/2016 08:32:00 AM

The DOL reported:

In the week ending December 10, the advance figure for seasonally adjusted initial claims was 254,000, a decrease of 4,000 from the previous week's unrevised level of 258,000. The 4-week moving average was 257,750, an increase of 5,250 from the previous week's unrevised average of 252,500.

There were no special factors impacting this week's initial claims. This marks 93 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 257,750.

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