by Calculated Risk on 7/03/2019 08:32:00 AM

The DOL reported:

In the week ending June 29, the advance figure for seasonally adjusted initial claims was 221,000, a decrease of 8,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 227,000 to 229,000. The 4-week moving average was 222,250, an increase of 500 from the previous week's revised average. The previous week's average was revised up by 500 from 221,250 to 221,750.
emphasis added

The previous week was revised up.

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 222,250.

This was close to the consensus forecast.