Thursday, December 08, 2016

Weekly Initial Unemployment Claims decrease to 258,000

by Bill McBride on 12/08/2016 08:33:00 AM

The DOL reported:

In the week ending December 3, the advance figure for seasonally adjusted initial claims was 258,000, a decrease of 10,000 from the previous week's unrevised level of 268,000. The 4-week moving average was 252,500, an increase of 1,000 from the previous week's unrevised average of 251,500.

There were no special factors impacting this week's initial claims. This marks 92 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 252,500.

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