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Thursday, December 27, 2012

Weekly Initial Unemployment Claims decline to 350,000, 4-Week average at low for 2012

by Calculated Risk on 12/27/2012 08:30:00 AM

The DOL reports:

In the week ending December 22, the advance figure for seasonally adjusted initial claims was 350,000, a decrease of 12,000 from the previous week's revised figure of 362,000. The 4-week moving average was 356,750, a decrease of 11,250 from the previous week's revised average of 368,000.
The previous week was revised up slightly from 361,000.

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 declined to 356,750.

The 4-week average is now at the low for the year. The previous low for the 4-week average was 363,000.

The recent spike in the 4-week average was due to Hurricane Sandy.

Weekly claims were lower than the 365,000 consensus forecast.

And here is a long term graph of weekly claims:

Note: There are large seasonal factors in December and January, and that can make for large swings for weekly claims. Still - it is nice finishing year at the lowest level for the 4-week average.

All current Employment Graphs