Thursday, April 12, 2018

Weekly Initial Unemployment Claims decrease to 233,000

by Bill McBride on 4/12/2018 08:33:00 AM

The DOL reported:

In the week ending April 7, the advance figure for seasonally adjusted initial claims was 233,000, a decrease of 9,000 from the previous week's unrevised level of 242,000. The 4-week moving average was 230,000, an increase of 1,750 from the previous week's unrevised average of 228,250.

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 230,000.

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