Thursday, July 06, 2017

Weekly Initial Unemployment Claims increase to 248,000

by Bill McBride on 7/06/2017 08:33:00 AM

The DOL reported:

In the week ending July 1, the advance figure for seasonally adjusted initial claims was 248,000, an increase of 4,000 from the previous week's unrevised level of 244,000. 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 higher than the consensus forecast.

The low level of claims suggests relatively few layoffs.