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Thursday, July 31, 2014

Weekly Initial Unemployment Claims at 302,000, 4-Week Average Lowest since April 2006

by Calculated Risk on 7/31/2014 08:36:00 AM

The DOL reports:

In the week ending July 26, the advance figure for seasonally adjusted initial claims was 302,000, an increase of 23,000 from the previous week's revised level. The previous week's level was revised down by 5,000 from 284,000 to 279,000. The 4-week moving average was 297,250, a decrease of 3,500 from the previous week's revised average. This is the lowest level for this average since April 15, 2006 when it was 296,000. The previous week's average was revised down by 1,250 from 302,000 to 300,750.

There were no special factors impacting this week's initial claims.
The previous week was revised down to 279,000.

The following graph shows the 4-week moving average of weekly claims since January 1971.

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 297,250.

This was lower than the consensus forecast of 305,000.  The 4-week average is now at normal levels for an expansion.