by Calculated Risk on 11/22/2023 08:30:00 AM

The DOL reported:

In the week ending November 18, the advance figure for seasonally adjusted initial claims was 209,000, a decrease of 24,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 231,000 to 233,000. The 4-week moving average was 220,000, a decrease of 750 from the previous week's revised average. The previous week's average was revised up by 500 from 220,250 to 220,750.
emphasis added

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 decreased to 220,000.

The previous week was revised up.

Weekly claims were much lower than the consensus forecast.