Thursday, March 22, 2018

Weekly Initial Unemployment Claims increase to 229,000

by Bill McBride on 3/22/2018 08:34:00 AM

The DOL reported:

In the week ending March 17, the advance figure for seasonally adjusted initial claims was 229,000, an increase of 3,000 from the previous week's unrevised level of 226,000. The 4-week moving average was 223,750, an increase of 2,250 from the previous week's unrevised average of 221,500.

Claims taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal.
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 223,750.

This was slightly higher than the consensus forecast. The low level of claims suggest relatively few layoffs.