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Thursday, September 27, 2012

Weekly Initial Unemployment Claims decline to 359,000

by Calculated Risk on 9/27/2012 08:30:00 AM

Other releases: From the BEA, Q2 GDP was revised down to 1.3% from 1.7%.

From the Census Bureau:

New orders for manufactured durable goods in August decreased $30.1 billion or 13.2 percent to $198.5 billion, the U.S. Census Bureau announced today. This decrease, down following three consecutive monthly increases, was the largest decrease since January 2009 and followed a 3.3 percent July increase.
The decline was due to the volatile transportation sector.

The DOL reports:
In the week ending September 22, the advance figure for seasonally adjusted initial claims was 359,000, a decrease of 26,000 from the previous week's revised figure of 385,000. The 4-week moving average was 374,000, a decrease of 4,500 from the previous week's revised average of 378,500.
The previous week was revised up from 382,000.

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 374,000.

This was below the consensus forecast of 376,000.

And here is a long term graph of weekly claims:

Mostly moving sideways this year, but moving up recently.

All current Employment Graphs