Thursday, June 30, 2011

Weekly Initial Unemployment Claims decline slightly to 428,000

by Calculated Risk on 6/30/2011 08:30:00 AM

The DOL reports on weekly unemployment insurance claims:

In the week ending June 25, the advance figure for seasonally adjusted initial claims was 428,000, a decrease of 1,000 from the previous week's unrevised figure of 429,000. The 4-week moving average was 426,750, an increase of 500 from the previous week's unrevised average of 426,250.
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 increased slightly this week to 426,750.

This is the 12th straight week with initial claims above 400,000, and the 4-week average is at about the same the level as in January. This suggests the labor market weakness in May continued into June.