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Thursday, April 29, 2010

Weekly Initial Unemployment Claims at 448,000

by Calculated Risk on 4/29/2010 08:30:00 AM

The DOL reports on weekly unemployment insurance claims:

In the week ending April 24, the advance figure for seasonally adjusted initial claims was 448,000, a decrease of 11,000 from the previous week's revised figure of 459,000. The 4-week moving average was 462,500, an increase of 1,500 from the previous week's revised average of 461,000.
The advance number for seasonally adjusted insured unemployment during the week ending April 17 was 4,645,000, a decrease of 18,000 from the preceding week's revised level of 4,663,000.
Weekly Unemployment Claims Click on graph for larger image in new window.

This graph shows the 4-week moving average of weekly claims since 1971.

The four-week average of weekly unemployment claims increased this week by 1,500 to 462,500.

The dashed line on the graph is the current 4-week average. The current level of 448,000 (and 4-week average of 462,500) is still high, and suggests continuing weakness in the labor market.

The 4-week average first declined to this level in December 2009, and has essentially moved sideways for four months.