Thursday, May 26, 2011

Weekly Initial Unemployment Claims increase to 424,000

by Calculated Risk on 5/26/2011 08:30:00 AM

The DOL reports on weekly unemployment insurance claims:

In the week ending May 21, the advance figure for seasonally adjusted initial claims was 424,000, an increase of 10,000 from the previous week's revised figure of 414,000. The 4-week moving average was 438,500, a decrease of 1,750 from the previous week's revised average of 440,250.
The following graph shows the 4-week moving average of weekly claims for the last 40 years.
Weekly Unemployment Claims Click on graph for larger image in graph gallery.

The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased this week to 438,500.

The 4-week average is back to the level of last November when there were fewer payroll jobs being added each month - and that is very concerning.