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Thursday, November 15, 2012

Weekly Initial Unemployment Claims increased sharply to 439,000

by Calculated Risk on 11/15/2012 08:30:00 AM

The DOL reports:

In the week ending November 10, the advance figure for seasonally adjusted initial claims was 439,000, an increase of 78,000 from the previous week's revised figure of 361,000. The 4-week moving average was 383,750, an increase of 11,750 from the previous week's revised average of 372,000.
The previous week was revised up from 355,000.

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 383,750.

This sharp increase is due to Hurricane Sandy as claims increased significantly in the impacted areas. Note the spike in 2005 related to hurricane Katrina - we are seeing a similar impact, although on a smaller scale.

Weekly claims were higher than the consensus forecast.

And here is a long term graph of weekly claims:

Mostly moving sideways this year ...

All current Employment Graphs