Thursday, May 31, 2012

Weekly Initial Unemployment Claims increase to 383,000

by Calculated Risk on 5/31/2012 08:38:00 AM

Note: The BEA reported that the second estimate of Q1 real GDP growth was 1.9%, lower than the advance estimate of 2.2% and at the consesnus expectation. Real Gross Domestic Income (GDI) was reported at 2.7% annual rate.

The DOL reports:

In the week ending May 26, the advance figure for seasonally adjusted initial claims was 383,000, an increase of 10,000 from the previous week's revised figure of 373,000. The 4-week moving average was 374,500, an increase of 3,750 from the previous week's revised average of 370,750.
The previous week was revised up from 370,000 to 373,000.

The following graph shows the 4-week moving average of weekly claims since January 2000.

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 374,500.

The average has been between 363,000 and 384,000 all year.

And here is a long term graph of weekly claims:

This was above the consensus forecast of 370,000.

All current Employment Graphs