Thursday, February 16, 2017

Weekly Initial Unemployment Claims increase to 239,000

by Bill McBride on 2/16/2017 09:02:00 AM

The DOL reported:

In the week ending February 11, the advance figure for seasonally adjusted initial claims was 239,000, an increase of 5,000 from the previous week's unrevised level of 234,000. The 4-week moving average was 245,250, an increase of 500 from the previous week's revised average. The previous week's average was revised up by 500 from 244,250 to 244,750.
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 245,250.

This was below the consensus forecast.

The low level of claims suggests relatively few layoffs.