Thursday, May 04, 2017

Weekly Initial Unemployment Claims decrease to 238,000

by Bill McBride on 5/04/2017 08:34:00 AM

The DOL reported:

In the week ending April 29, the advance figure for seasonally adjusted initial claims was 238,000, a decrease of 19,000 from the previous week's unrevised level of 257,000. The 4-week moving average was 243,000, an increase of 750 from the previous week's unrevised average of 242,250.
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 243,000.

This was lower than the consensus forecast.

The low level of claims suggests relatively few layoffs.