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Thursday, April 17, 2014

Weekly Initial Unemployment Claims at 304,000; 4-Week average lowest since 2007

by Calculated Risk on 4/17/2014 08:37:00 AM

The DOL reports:

In the week ending April 12, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 300,000 to 302,000. The 4-week moving average was 312,000, a decrease of 4,750 from the previous week's revised average. This is the lowest level for this average since October 6, 2007 when it was 302,000.
The previous week was revised up from 300,000.

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 decreased to 312,000.

This was lower than the consensus forecast of 320,000.  The 4-week average is at normal levels for an expansion.